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Category: Australia

  • MIL-OSI Australia: How far would you trust AI to make important decisions?

    Source: University of South Australia

    18 February 2025

    Would you trust AI to choose your medical treatment?

    From tailored Netflix recommendations to personalised Facebook feeds, artificial intelligence (AI) adeptly serves content that matches our preferences and past behaviours. But while a restaurant tip or two is handy, how comfortable would you be if AI-algorithms were in charge of your medical expert or new hire?

    Now, a new study from the University of South Australia shows that most people are more likely to trust AI in situations where the stakes are low, such as music suggestions, but less likely to trust AI in high-stakes situations, such as medical decisions.

    However, those with poor statistical literacy or little familiarity with AI were just as likely to trust algorithms for trivial choices as they were for critical decisions.

    Assessing responses from nearly 2000 participants across 20 countries, researchers found that statistical literacy affects trust differently. People who understand that AI-algorithms work through pattern-based predictions (but also have risks and biases) were more sceptical of AI in high-stakes situations, but less so in low-stakes situations.

    They also found that older people and men were generally more cautious of algorithms, as were people in highly industrialised nations like Japan, the US, and the UK.

    Understanding how and when people trust AI-algorithms is essential, particularly as society continues to introduce and adopt machine-learning technologies.

    AI adoption rates have increased dramatically with 72% of organisations now using AI in their business.

    Lead author and human and artificial cognition expert, Dr Fernando Marmolejo-Ramos, says the speed at which smart technologies are being used to outsource decisions is outpacing our understanding to successfully integrate them into society.

    “Algorithms are becoming increasingly influential in our lives, impacting everything from minor choices about music or food, to major decisions about finances, healthcare, and even justice,” Dr Marmolejo-Ramos says.

    “But the use of algorithms to help make decisions implies that there should be some confidence in their reliability. That’s why it’s so important to understand what influences people’s trust in algorithmic decision-making.

    “Our research found that in low-stakes scenarios, such as restaurant recommendations or music selection, people with higher levels of statistical literacy were more likely to trust algorithms.

    “Yet, when the stakes were high, for things like health or employment, the opposite was true; those with better statistical understanding were less likely to place their faith in algorithms.”

    UniSA’s Dr Florence Gabriel says there should be a concentrated effort to promote statistical and AI literacy among the general population so that people can better judge when to trust algorithmic decisions.

    “An AI-generated algorithm is only as good as the data and coding that it’s based on,” Dr Gabriel says.

    “We only need to look at the recent banning of DeepSeek to grasp how algorithms can produce biased or risky data depending on the content that it was built upon.

    “On the flip side, when an algorithm has been developed through a trusted and transparent source, such as the custom-build EdChat chatbot for South Australian schools, it’s more easily trusted.

    “Learning these distinctions is important. People need to know more about how algorithms work, and we need to find ways to deliver this in clear, simple ways that are relevant to the user’s needs and concerns.

    “People care about what the algorithm does and how it affects them. We need clear, jargon-free explanations that align with the user’s concerns and context. That way we can help people to responsibly engage with AI.”

    …………………………………………………………………………………………………………………………

    Contacts for interview: Dr Florence Gabriel E: Florence.Gabriel@unisa.edu.au
    Dr Fernando Marmolejo-Ramos (now at Flinders University) E: fernando.marmolejoramos@flinders.edu.au
    Media contact:     Annabel Mansfield M: +61 479 182 489 E: Annabel.Mansfield@unisa.edu.au

    Other articles you may be interested in

    MIL OSI News –

  • MIL-Evening Report: Is Australia’s GST a tax or a tariff? And why has it become a target in the trade wars?

    Source: The Conversation (Au and NZ) – By Felicity Deane, Professor, Queensland University of Technology

    Australian beef exports to the United States are GST-free and should not be subject to any retaliatory tariff. William Edge/Shutterstock

    The latest round of proposed tariffs from US President Donald Trump includes a response to what the White House describes as “unfair” taxes – specifically, value-added taxes such as Australia’s Goods and Services Tax (GST).

    Most economically advanced countries have a value-added tax (VAT) or sales tax on consumption. This applies to domestic goods and services as well as to imports. The United States is one of the few countries that does not impose a sales tax, though many of the states impose their own sales tax.

    So the argument, according to the White House, is these taxes apply to imported goods, but not to exports.

    Is the GST a tax or a tariff?

    The GST is a broad-based consumption tax of 10%. It applies to most goods and services that are consumed in Australia, regardless of their origin.

    An import tariff – sometimes called an import duty – is imposed exclusively on imported goods as a condition of market access.

    Tariffs are not imposed on domestically produced goods at all. This is the main point of difference with a domestic consumption tax. The GST applies equally to imported and domestically produced goods, adhering to long-agreed international trade rules.

    It remains unclear how the Trump administration intends to implement a tariff that is equivalent to the 10% GST. In effect, this becomes a tax on US consumers if they buy Australian goods.



    Read more:
    What’s a trade war?

    Such an indirect tax would be regressive, which means it falls more heavily on lower-income consumers. The expansion of tariffs to include other nations’ VAT systems also represents a significant overreach into national sovereignty. It has long been accepted that sovereign nations have the right to tax their citizens and businesses as they see fit.

    Indeed, Australia’s GST is among the lowest among economically advanced nations, for which the average is 19%, so the wider impact on US consumers will be even greater.

    Goods that are exported to the US face a new round of tariffs.
    Shutterstock

    Trump is clearly (and unapologetically) seeking to reinvigorate US manufacturing. But the reality is that US labour costs are high. It is also inefficient for any country to produce all the goods and services its population requires. This is particularly the case in such a high-consumption nation as the US.

    The US has been described as a consumer of last resort
    because strong consumer demand has been filled by ever rising imports from other countries. The mutually beneficial relationship between the US and China has enabled the rise of the middle class in China. Trump’s tariffs may shift this, causing geopolitical tensions and economic instability.

    Australia’s response: pausing the digital services tax

    While these tariffs primarily harm US consumers, Australian businesses will also feel the effects. However, it is unclear to what extent. Notably, one main export to the US, unprocessed agricultural products such as beef, are GST-free and should not be subject to any retaliatory tariff.

    However, many other Australian exports could be disadvantaged. Trump’s policies will raise the cost of Australian imported goods in the US market, potentially making them less appealing to US consumers.

    The threat of these tariffs is clearly a problem for a federal government facing an impending election, and Prime Minister Anthony Albanese has so far responded cautiously. While a diplomatic approach may secure a minor concession, it’s in stark contrast to Canada’s firm stance, which included immediate threats of retaliatory measures.



    Read more:
    Whether we carve out an exemption or not, Trump’s latest tariffs will still hit Australia

    Trump’s use of tariff threats as a negotiating tactic does appear to be having the desired effect, with a potential suspension of Australia’s proposed big tech levy. This proposal would have imposed a tax on major tech firms such as Meta and Google if they did not reach a direct agreement with local media companies.

    Reports indicate the government has put this proposal on hold due to the risk of retaliatory tariffs from the US. Such a tax would likely have invoked the wrath of the US administration, with the digital services levies of Canada and France specifically referenced in the most recent White House tariff announcement.

    It is fair to say the White House statement deliberately misleads any reader into thinking that tariff percentages directly impact on trade volumes.

    This statement ignores a fundamental principle that has made international trade so appealing since World War II – and why economists have argued in support of it for hundreds of years. Countries produce and trade the goods and services at which they are efficient. Efficiency leads to lower costs which, all else being equal, means consumers are better off.

    The statement from the White House, together with Trump’s past pronouncements, demonstrate that all rules to do with international taxation and fairness have been thrown out.

    This does not appear to be the main concern, however, with Australian negotiators potentially willing to put on hold a crucial policy to ensure the long-term viability of local journalism.

    This is just the beginning. Anyone who felt some comfort and safety in the strength of our own democracy should carefully consider the overreach that is occurring through these threats.

    Felicity Deane does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Is Australia’s GST a tax or a tariff? And why has it become a target in the trade wars? – https://theconversation.com/is-australias-gst-a-tax-or-a-tariff-and-why-has-it-become-a-target-in-the-trade-wars-250041

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Boys not only perform better in maths, they are also more confident about the subject than girls

    Source: The Conversation (Au and NZ) – By Sarah Buckley, Senior Research Fellow, Education Research, Policy and Development Division, Australian Council for Educational Research

    Michael Jung/ Shutterstock

    There is a persistent gender gap in Australian schools. Boys, on average, outperform girls in maths.

    We see this in national tests such as NAPLAN, as well as international assessments.

    New Australian Council for Educational Research analysis by my colleague Catherine Underwood shows how boys, on average, are also more confident and positive about maths than girls.

    What can parents do to help their children feel more confident about this core subject?



    Read more:
    Why are boys outperforming girls in maths?

    Boys outperform girls in maths

    An important measure of students’ maths performance is the OECD’s Programme for International Assessment (PISA) test. Run every three years, it measures 15-year-olds’ ability to apply their maths, science and reading knowledge to real-world situations.

    In 2022, 53% of Australian male students achieved the PISA national proficiency standard in maths, compared with 48% of female students. The gender gap on average scores was also greater in Australia than across the OECD.

    As part of PISA, students also completed a questionnaire about their attitudes to learning. ACER’s new analysis uses data from the questionnaire to look at Australian students’ confidence in maths and how this differs between girls and boys.

    Boys outperformed girls in maths skills in the most recent PISA test.
    Monkey Business Images/ Shutterstock

    Why is confidence so important?

    Research suggests students’ confidence has an impact on their academic performance.
    Researchers can call this “self-efficacy”, or the belief in your ability to successfully perform tasks and solve problems.

    Students with high mathematical self-efficacy embrace challenges, use effective problem-solving strategies, and persevere despite difficulties. Those with low self-efficacy may avoid tasks, experience anxiety, and ultimately underperform due to a lack of confidence in their maths abilities.

    We can see this in the 2022 PISA results. Girls in the top quarter on the self-rated “self-efficacy index” scored an average of 568 points on the PISA maths performance test, a staggering 147 points higher than the average for girls in the lowest quarter on the index.

    For boys, the benefit of confidence was even more pronounced. Those in the top quarter of the index scored 159 points on average higher in maths performance than those in the lowest quarter.

    Boys are more confident than girls

    The PISA questionnaire asked students how confident they felt about having to do a range of formal and applied maths tasks.

    Students showed similar levels of confidence solving formal maths tasks such as equations. But male students, on average, showed they were more confident than female students with applied mathematics tasks such as:

    • finding distances using a map

    • calculating a power consumption rate

    • calculating how much more expensive a computer would be after adding tax

    • calculating how many square metres of tiles are needed to cover a floor.

    What about attitude?

    The PISA data also shows Australian boys, on average, have more positive attitudes towards maths than girls.

    For example, in response to the statement “mathematics is easy for me” only 41% of female students agreed, compared with 55% of male students.

    In response to “mathematics is one of my favourite subjects”, 37% of female students agreed, compared with 49% of males.

    But in response to “I want to do well in my mathematics class”, 91% of female students agreed, compared to 92% of males.

    What can parents do at home to help?

    It is troubling that girls, on average, show consistently lower levels of confidence about maths tasks.

    This comes on top of other PISA questionnaire results that have shown in general (not just around maths) that a higher proportion of girls than boys say they feel nervous approaching exams.

    We want all students to have a positive relationship with maths, where they can appreciate maths skills are important in many aspects of their lives, and they’re willing to have a go to develop them.

    Recently, we collaborated with the Victorian Academy of Teaching and Leadership on resources for teachers, students and parents that focus on addressing maths anxiety.

    Research shows how we talk about maths at home is important in shaping students’ attitudes and persistence. Parents can help create a positive atmosphere around maths by:

    • dispelling “maths myths”, such as the idea maths ability is fixed and no amount of effort or practise can improve it

    • talking about how making mistakes is a normal part of learning

    • thinking about about how we forgive mistakes in other areas (such as sport, art or science): how can we treat maths mistakes in a similar way?

    • telling your child they have done a good job when they put effort into their maths learning.

    Parents can also help their children even if they don’t know the answers to maths problems. It’s perfectly fine to say, “I’m not sure how to do that one but who can we ask for help? Let’s talk to the teacher.”

    Modelling a “help-seeking” approach lets children know that it’s OK not to know the answer, the key is to persist and try.



    Read more:
    ‘Maths anxiety’ is a real thing. Here are 3 ways to help your child cope

    Sarah Buckley is an Honorary Senior Research Fellow in the Faculty of Education at the University of Melbourne and was on the academic advisory group for maths education app TownSquared. Sarah has worked on projects for ACER funded by the national and various state education departments and by ARC research grants.

    – ref. Boys not only perform better in maths, they are also more confident about the subject than girls – https://theconversation.com/boys-not-only-perform-better-in-maths-they-are-also-more-confident-about-the-subject-than-girls-250022

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Australian students just recorded the lowest civics scores since testing began. But young people do care about politics

    Source: The Conversation (Au and NZ) – By Philippa Collin, Professor, Institute for Culture and Society, Western Sydney University

    Australian school students’ civics knowledge is the lowest it has been since testing began 20 years ago, according to new national data.

    Results have fallen since the last assessment in 2019 and to the lowest levels since the national civics test began in 2004.

    This follows a federal parliamentary report earlier this month, calling for mandatory civics education in Australian schools (it is currently part of the curriculum but not compulsory). The report cited fears young people are “poorly equipped” to participate in Australian democracy.

    The latest results are certainly concerning. But as a researcher of the political lives of young people, I would caution against assuming young people “don’t care” about politics, or are unable to engage in it.

    We also need to think about how civics education can engage meaningfully with young people and meet their needs.

    What does the new report say?

    This report from the Australian Curriculum, Assessment and Reporting Authority is based on a national sample of Year 6 and Year 10 students, who are tested on their civics and citizenship skills. It includes knowledge of democratic principles, the Australian political system and related history.

    The test is supposed to run every three years, but the most recent one was delayed by COVID. In 2024:

    • 43% of Year 6 students attained the “proficient standard”, compared with 53% in 2019

    • 28% of Australian Year 10 students met the proficient standard, compared with 38% in 2019.

    Young people care about history and community

    Alongside their civics skills, students were also asked about their support for a range of “citizenship behaviours”. While these figures have dropped from previous years, they nevertheless indicate most students are engaged in civic issues.

    • 81% of Year 6 students and 75% of Year 10 students thought learning about Australa’s history was “very or quite” important

    • 77% of Year 6 students and 70% of Year 10 students thought participating in activities to benefit the local community was “very or quite” important

    • 85% of Year 6 students and 68% of Year 10 students thought taking part in activities to protect the environment was “very or quite important”.

    Young people are knowledgable and active

    My research with young Australians shows they are interested, knowledgeable and active on civic and political issues in many different ways.

    This includes getting involved in or creating their own organisations, campaigns and online content. The issues range from bullying to mental health, climate change and ending gender-based violence.

    My research also shows even children as young as six have views on how to address complex issues such as climate change.

    When provided with platforms that respect their views, young people show they can research, deliberate and problem-solve. Many have clear opinions on what makes for a good life for themselves, Australia and the world. Initiatives such as a children’s parliament can connect their views directly with those who govern.

    Young people don’t feel included

    But governments and other authorities are historically poor at meaningfully engaging with young people.

    In my work and other research, we continue to hear many students feel they don’t have a genuine voice in the community.

    For example, in the climate movement, young female activists have said they do not feel feel their views are taken seriously by decision-makers because they are under 18.

    This suggests children’s interest and confidence in democracy could be supported by giving them meaningful opportunities to participate before they can vote.

    For example, creating governance mechanisms that include and are accountable to young people on matters that affect them. This should extend to issues which will significantly impact them into the future, such as housing and tax.

    Technology and critical media literacy matter

    We also have to make sure students are supported to get good quality information about issues relevant to them. And that they have the skills and resources to navigate information online.

    Research suggests engagement with news and strong media literacy skills are linked to civic participation.

    Studies have also found many Australian children who have high interest in the news are also involved in social issues online. Research shows social media is a key source for this news (as opposed to traditional sources such as newspapers or television).

    At the same time, just 41% of children aged 8–16 are confident they can tell fake news stories from real ones (which is is similar to survey results for adults).

    We also know some students, particularly from lower socioeconomic backgrounds, lack access to the technology they need for their schooling and everyday lives.

    How can civics and citizenship knowledge be improved?

    The new data certainly indicates the current system for civics education is not working for Australian students.

    As we work to improve young people’s civics knowledge, research indicates any new approach in schools should be created in conjunction with young people themselves. If young people are given a say in how their civics education is designed, they will be more engaged and the lessons will be more effective, especially for students who face disadvantage.

    Other studies we have co-designed and co-researched with young people have resulted in recommendations to trust young people and give them responsibilities and real-world learning opportunities, outside of school. They prioritised self-efficacy (people’s belief they can can control events that affect their lives) and a sense of belonging.

    If civics education is going to be effective, it should acknowledge young people already have an interest and a stake in politics, focus on where they get their information, and involve them in how civics education is designed and delivered.

    We might then have a model for supporting civics and citizenship learning across the community and across people’s lives.

    Philippa Collin receives funding from the Australian Research Council, Google, batyr and NSW Health.

    – ref. Australian students just recorded the lowest civics scores since testing began. But young people do care about politics – https://theconversation.com/australian-students-just-recorded-the-lowest-civics-scores-since-testing-began-but-young-people-do-care-about-politics-250047

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: With just 5 years to go, the world is failing on a vital deal to halt biodiversity loss

    Source: The Conversation (Au and NZ) – By Justine Bell-James, Professor, TC Beirne School of Law, The University of Queensland

    Almost 200 nations have signed an ambitious agreement to halt and reverse biodiversity loss but none is on track to meet the crucial goal, our new research reveals.

    The agreement, known formally as the Kunming-Montreal Global Biodiversity Framework, seeks to coordinate global efforts to conserve and restore biodiversity. Its overarching goal is to safeguard biodiversity for future generations.

    Biodiversity refers to the richness and variety within and between plant and animal species, and within ecosystems. This diversity is declining faster than at any time in human history.

    Five years remain until the framework’s 2030 deadline. Our research shows a more intense global effort is needed to achieve the goals of the agreement and stem the biodiversity crisis.

    Biodiversity is in decline

    Biodiversity decline is a growing global issue. Around one million animal and plant species are threatened with extinction.

    The problem is driven by human activities such as land clearing, climate change, pollution, excessive resource extraction and the introduction of invasive species.

    As biodiversity continues to degrade, the foundation of life on Earth becomes increasingly unstable. Biodiversity loss threatens our food, water and air. It increases our vulnerability to natural disasters and imperils ecosystems crucial for human survival and wellbeing.

    The Global Biodiversity Framework was adopted in late 2022 after four years of consultation and negotiation. It involved 23 core commitments to be met by 2030 involving both land and sea. Key to the deal is protecting areas from future harm, and restoring past harms.

    These aims are captured in two targets.

    The first is ensuring 30% of degraded areas are under “effective restoration” to enhance biodiversity. This could involve replanting vegetation, reducing weeds and other pests, or restoring water to drained areas.

    The second is to effectively conserve and manage 30% of land and sea areas – especially those important for biodiversity and the ways ecosystems function and benefit humans. This could mean creating national or marine parks, or nature refuges on private land.

    Importantly, countries should both increase the size of areas protected or under restoration (a matter of quantity), and choose areas where interventions will most benefit biodiversity (a matter of quality).

    Nations were asked to provide an action plan before October 2024. In a paper published today, we reviewed these plans.

    What we found

    Our findings were disappointing. Only 36 countries (less than one quarter of signatory nations) submitted a plan. Australia was one of them.

    And the plans provided were underwhelming. In particular, nations fell badly short on the restoration target. Only nine out of 36 countries committed to restoring a specific percentage of land and sea.

    For example, Italy pledged only to restore “large surfaces of degraded areas” and Australia committed to restoring “priority degraded areas”.

    Defining commitments with numbers is important, because it allows progress to be monitored and measured, and forces nations to be accountable.

    Of those nine countries that made specific restoration commitments, only six committed to the 30% goal: Aruba, China, Curaçao, Japan, Luxembourg and Uganda.

    The results were better when it came to protecting land and sea. Some 22 of the 36 countries set a percentage target for protection. However, only 14 committed to protecting at least 30% of areas, in line with the goals of the deal.

    Again, quality is also important here. Under the deal nations signed up to, protected land should enhance biodiversity, and cover areas very valuable for biodiversity recovery. However, many nations were silent on the issue of quality when outlining their planned protections. It means their efforts could, in some cases, do little for biodiversity.

    A spotlight on Australia

    In recent years, Australia has sought to establish itself as a biodiversity leader on the international stage. This included hosting the global Nature Positive Summit in October last year.

    Following the summit, the federal government claimed it was:

    a tangible demonstration of Australia’s commitments under the Kunming Montreal Global Biodiversity Framework. It showed our willingness to work collaboratively towards the goal of halting and reversing biodiversity loss.

    But despite the rhetoric, our research shows Australia’s plans are not particularly impressive.

    As noted above, Australia does not provide a percentage target for ecosystem restoration. Instead, its plan refers broadly to restoring “priority areas” without defining what these areas are.

    Australia’s plan pledges to identify “priority degraded areas” and define what “under effective restoration” means, but does not outline how this will be done.

    Australia is more aligned with global leaders on protection of biodiversity. It committed to safeguarding 30% of land and water in protected areas.

    However, it provided limited details on how it will select, implement and enforce protection measures. The plan also fails to recognise current shortcomings in protected areas, both in oceans and on land – in particular, Australia’s focus to date on quantity over quality when it comes to selecting sites.

    In contrast, the nation of Slovenia mapped out proposed protected areas.

    So, while Australia did submit an action plan, it has missed the opportunity to be a true global leader.

    Running out of time

    The Global Biodiversity Framework aims to unite nations in the fight to conserve and restore biodiversity. But as our research shows, many countries do not have plans to achieve this, and plans submitted to date are largely inadequate.

    As species and habitats are lost, ecosystems become less stable. This damages human health and wellbeing, as well as economies. Biodiversity loss also undermines vital cultural and spiritual connections to nature.

    All countries must accelerate efforts to avert the biodiversity crisis, and preserve Earth’s precious natural places for future generations.

    Justine Bell-James receives funding from the Australian Research Council, the National Environmental Science Program, and Queensland Government’s Department of Environment, Tourism, Science and Innovation. She is a Director of the National Environmental Law Association.

    James Watson has received funding from the Australian Research Council, National Environmental Science Program, South Australia’s Department of Environment and Water, Queensland’s Department of Environment, Science and Innovation as well as from Bush Heritage Australia, Queensland Conservation Council, Australian Conservation Foundation, The Wilderness Society and Birdlife Australia. He serves on the scientific committee of BirdLife Australia and has a long-term scientific relationship with Bush Heritage Australia and Wildlife Conservation Society. He serves on the Queensland government’s Land Restoration Fund’s Investment Panel as the Deputy Chair.

    – ref. With just 5 years to go, the world is failing on a vital deal to halt biodiversity loss – https://theconversation.com/with-just-5-years-to-go-the-world-is-failing-on-a-vital-deal-to-halt-biodiversity-loss-249841

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Australians are waiting 12 years on average before seeking help for a mental health problem – new research

    Source: The Conversation (Au and NZ) – By Louise Birrell, Researcher, Matilda Centre for Research in Mental Health and Substance Use, University of Sydney

    Pixel-Shot/Shutterstock

    Australians are waiting an average of 12 years to seek treatment for mental health and substance use disorders, our new research shows.

    While many of us are proactive in looking after our physical health, we appear to be seriously neglecting our mental health, suffering for many years before reaching out for help. Some people never seek help.

    In our research, the length of delay in seeking help varied depending on the type of mental health problem and other factors such as sex and age.

    But delays in getting help mean mental health problems can become more complex, severe and difficult to treat. So it’s important to understand why these delays occur – and how we can reduce them.

    Some key findings

    We used national data from the 2020–22 Australian National Study of Mental Health and Wellbeing, a nationally representative survey by the Australian Bureau of Statistics (ABS).

    Among the information collected in this survey, respondents were asked about their history of mental health and substance use problems, and when they first sought help from a medical doctor or other professional regarding their symptoms (if at all).

    The survey asked about the most common types of mental health and substance use problems in the general population under three broad categories: mood disorders (for example, depression and bipolar disorder), anxiety disorders (such as social anxiety disorder and obsessive compulsive disorder) and substance use disorders.

    People with mood disorders waited an average of three years before seeking treatment, those with substance use disorders waited an average of eight, and people with anxiety disorders waited the longest to seek treatment – 11 years on average.

    We found people experiencing panic disorder, a type of anxiety disorder, had some of the shortest delays (an average of two years), while those with social anxiety disorder waited the longest (13 years).

    The average delay across all mental health and substance use disorders – 12 years – was calculated based on the prevalence of different conditions. Anxiety disorders, particularly social anxiety disorder, are the most common, which brought up this average.

    We found younger people were more likely to seek help.
    Perfect Wave/Shutterstock

    We also looked at how many people would eventually seek help across their lifetime. Nearly everyone with depression (94%) eventually sought help, but only 25% of people with an alcohol use disorder ever did.

    Women were less likely than men to seek help for alcohol or other drug-related problems but were more likely to reach out for help with anxiety or mood-related concerns.

    Gen Z and millennials were much more likely to seek help than older generations. Compared to people born before 1972, those born between 1992 and 2005 were more than four times as likely to seek treatment for a drug or alcohol problem, more than twice as likely to seek help for a mood disorder, and nearly four times as likely to seek help for an anxiety problem.

    Some limitations

    While the ABS survey is one of the largest and most comprehensive in Australia, it relies on people remembering and accurately reporting when they first experienced symptoms of a mental health or substance use problem, and when they first sought support.

    It was also conducted during the COVID pandemic, a time of heightened stress and increased mental health challenges. However, the impact of this is probably small, given people were asked about their experiences across their entire lifetime.

    The survey also didn’t measure less common (but very impactful) mental health problems such as psychosis or eating disorders.

    How do delays compare to other countries?

    While this data is not perfect, the delays we observed are mostly in line with those seen in other countries. In some ways we are actually doing better.

    The relatively short delays for seeking help for a mood disorder (for example, depression, for which the average delay was three years) are largely consistent with similar studies in the United States, New Zealand, Europe and Asia.

    It’s often several years between when someone first experiences a mental health problem and when they seek treatment.
    Erik Mclean/Unsplash

    While still lengthy, the average delay of 11 years to seek treatment for an anxiety disorder in Australia appears similar if not shorter than in many other countries (ranging between 10–30 years).

    What’s more, when it comes to seeking help for problems with alcohol, things seem to be improving. While overall delays remain long, and most people still don’t seek help for alcohol problems, the delay in getting help appears to have shortened over time in Australia.

    The average time to seek treatment for alcohol use disorder is now eight years shorter than the 18-year delay reported in 2007. This may be due to increased awareness and education around the impact of alcohol use.

    Why do people delay reaching out for help?

    There are a range of reasons someone may delay seeking help. Services are not always available and many carry high out-of-pocket costs. Fear and stigma play a significant role, while many people simply may not know where to seek support or what might help.

    Finding the right treatment can be hard and while some people recover without help, for many these delays come at a huge cost. Delays mean problems can become more complex, severe and difficult to treat.

    We need to actively encourage early help-seeking, as well as continue efforts to reduce the stigma associated with poor mental health. Expanding anti-stigma campaigns and education to encourage people to seek help early could assist with this.

    Alongside these efforts it’s essential that effective treatment services are accessible when people do reach out for help. There has been chronic underinvestment in the mental health treatment system over many decades, while prevalence rates have increased. We need continued and increased investment in mental health treatment, prevention and early intervention.

    Ultimately, by empowering future generations to be proactive about their mental health, we hope we can make going to the doctor for anxiety as normal as doing so for the flu.

    Services available across Australia include the National Alcohol and Other Drug hotline (1800 250 015), Lifeline (13 11 14), Kids Helpline (1800 55 1800) and Head to Health. Each state and territory also has specialised mental health services.

    Louise Birrell receives funding from The National Health and Medical Research Council and The Australian Government Department of Health and Ageing.

    Cath Chapman receives funding from The National Health and Medical Research Council and The Australian Government Department of Health and Ageing.

    Katrina Prior receives funding from the National Health and Medical Research Council.

    – ref. Australians are waiting 12 years on average before seeking help for a mental health problem – new research – https://theconversation.com/australians-are-waiting-12-years-on-average-before-seeking-help-for-a-mental-health-problem-new-research-249159

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Should you be allowed to sue a judge? The High Court says no

    Source: The Conversation (Au and NZ) – By Stephen Parker, Honorary Professorial Fellow, Melbourne CSHE, The University of Melbourne

    Shutterstock

    Judges in Australian courtrooms have a lot of power. They can decide on someone’s guilt and the punishment for it, including lengthy prison time.

    But what if they get it badly wrong? Should you be able to sue a judge for damages?

    For several centuries the answer has been no in a “superior” court, such as a state Supreme Court, but possibly yes in an “inferior” court, such as a magistrates, district or county court, where most cases are actually heard.

    The High Court of Australia has now ruled that judges are immune from being sued for damages in every court and for all purposes. It is absolute, even if you have been falsely imprisoned.

    But how did this decision come to be, and what does it mean for fair judicial processes?

    The High Court case

    The story behind the ruling began with a legal property dispute between a couple called the Stradfords.

    Judge Salvatore Vasta in the Federal Circuit Court ordered that Mr Stradford should make “full and frank disclosure” of various financial documents. Mrs Stradford complained repeatedly that the disclosure was not complete.

    Judge Vasta adjourned proceedings briefly to allow them to discuss settlement. To give Mr Stradford something to think about, he said he hoped Mr Stradford had brought his toothbrush with him.

    Later that day, Judge Vasta sentenced Mr Stradford to 12 months’ imprisonment for contempt of court in disobeying the disclosure order. Judge Vasta mistakenly assumed a previous judge had already decided Mr Stradford was in contempt.

    Mr Stradford appealed the contempt conviction in the Full Court of the Family Court. It allowed the appeal, concluding “the processes employed [by Judge Vasta] were so devoid of procedural fairness […] and the reasons for judgment so lacking in engagement with the issues of fact and law to be applied” that it would be an “affront to justice” to permit the contempt declaration and the imprisonment order to stand.

    Armed with this finding, Mr Stradford sued Judge Vasta for damages for false imprisonment and won. Judge Vasta then appealed to the High Court, arguing that he was immune from being sued. In its ruling last week, the High Court agreed with him.

    Why can’t judges be sued?

    Immunity from being sued helps protect judicial independence, said the High Court.

    If, at the back of their mind, a judge thinks they might be sued for damages should they make a wrong decision, they might be swayed by that, rather than objectively and impartially applying the law to the facts.

    Immunity also helps to achieve finality in court proceedings and “quell disputes”. Finality is a consideration in all legal systems, and is the reason why some claims are time-barred if not brought within a specified period. You don’t want the same cases dragging on forever.

    The High Court noted that a disappointed litigant can appeal against a decision, but once all appeal avenues have been exhausted, that is that.

    The High Court has ruled judges can’t be sued for their decisions.
    Shutterstock

    If a judge has committed a crime, such as accepting a bribe, then the criminal law can be applied.

    But in the more likely case where the unsuccessful party argues there has been a mistake, or even that the judge was motivated by bias or malice, the only recourse is to appeal. They can’t sue the judge.

    The High Court noted also that a judge can be removed by parliament for misbehaviour or incapacity.

    But there are counter-arguments to which the court didn’t give much attention.

    For those who feel the outcome was wrong, appealing against a decision is very expensive. It’s simply not open to most people, due to the near-disappearance of legal aid in civil cases.

    And the removal of judges by parliaments is extremely rare, while not helping the litigant anyway.

    Is this good public policy?

    In other walks of professional life, indemnity insurance exists. If judges could be sued, but were insured, they would normally not pay compensation personally. And if they could not find insurance, perhaps something needs investigating.

    A compromise position would be possible. Any legal action against a judge could have to exceed a certain threshold of severity to proceed.

    For example, a plaintiff might have to obtain prior permission, and for that they might have to prove malice on the part of the judge or an error so extreme that the judge had been reckless, not merely negligent.

    But courts are different, it seems. Litigants do not make a contract with courts and are not consumers of a court’s services. They are engaging in a public process, where bigger issues are in play.

    The public policy arguments so resoundingly endorsed by the High Court aren’t based on data about what the public thinks, or would necessarily think if all the arguments were presented to them.

    None of this has improved Mr (or Mrs) Stradford’s financial position. No one is going to compensate them.

    Courts are, in a very real sense, a law unto themselves.

    Stephen Parker does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Should you be allowed to sue a judge? The High Court says no – https://theconversation.com/should-you-be-allowed-to-sue-a-judge-the-high-court-says-no-249939

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI New Zealand: Shuttering govt entities? Public service boss’s comments welcomed

    Source: ACT Party

    “ACT enthusiastically welcomes a debate on shuttering redundant government entities,” says ACT Public Service spokesperson Todd Stephenson after the Public Service Commissioner raised the prospect publicly.

    “For households and businesses in an economic slump, cancelling old subscriptions is a financial no-brainer, and it’s time for the Government to run the ruler over its own redundant commitments.

    “For starters, we could close ministries focused on serving specific demographic groups, and instead spend the funding based on need, through the Social Investment Agency.

    “We could scrap the Human Rights Commission and instead strengthen the Human Rights Review Tribunal – the body that can actually act on human rights breaches.

    “We could abolish the Energy Efficiency and Conservation Authority, and the Climate Change Commission, and just let the emissions trading scheme do its job.

    “If we’re serious about growing the economy, we need to shrink the scope of the government, focus on doing the basics well, and return savings to taxpayers. We need to transfer power and resources away from Wellington and back to the firms, farms, and families doing the real work to pull us out of recession.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Inner city spruce up planned for State Highway 1, Wellington CBD

    Source: New Zealand Transport Agency

    State Highway 1, Karo Drive in the Wellington CBD will be getting some much-needed TLC next week.

    Mark Owen, Regional Manager Lower North Island / Top of the South, say it will be the latest piece of urban State Highway 1 in the capital to feel the benefits of the state highway summer maintenance programme.

    “People heading in and out of the city will have seen the work we have done on the urban motorway. The highway route through the city is another well used road, and that is why the northbound lanes of Karo Drive between Taranaki and Victoria Streets are our next priority.”

    “Over 25,000 use this stretch of highway daily. The more a road is used, the more important maintaining it is,” Mr Owen says.

    Road crews will be on the job on the nights of Sunday, 23 February, and Monday 24 February, between 9 pm and 4:30 am, weather permitting. There will be noise disruption throughout the night, but the noisiest part of the work will be done between 9 pm and 11 pm.

    Mr Owen says the timing of the work is carefully chosen.

    “Traffic volumes in Wellington’s CBD are at their busiest during the day, which is why we do this sort of work at night when fewer vehicles are on the road. It inconveniences fewer people and makes the job easier, and safer, to complete.”

    “We will have to close all the northbound lanes on Sunday night, then run lane closures on Monday night. It means there will be just one night where there will be a full directional closure,” Mr Owen says.

    Local road detours will be available for the Sunday night closure, via Taranaki St, Jervois/Waterloo/Aotea Quay to the Aotea Quay Northbound onramp. This will add to travel times and drivers should allow extra time for their journeys.

    Mr Owen appreciates state highway roadworks in the city will cause disruption and delays.

    We ask drivers to please be patient, follow all traffic management in place, while our contractors work hard to get this job finished.”

    Work schedule and Location:

    • Sunday, 23 February. 9 pm to 4:30 am
      • SH1 Karo Drive CLOSED to all northbound traffic between Taranaki  and Victoria Streets
      • Detour available via Taranaki St, Jervois/Waterloo/Aotea Quay to the Aotea Quay Northbound onramp
    • Monday, 24 February. 9 pm to 4:30 am
      • Northbound lane closures, SH1 Karo Drive, between Cuba Street and Willis Street.
      • Victoria Street will be shut at the SH1 intersection
      • Travel delays can be expected
    • These works are weather-dependent and may be rescheduled at short notice.
    • Access will be available for emergency services and affected residents at all times.

    More Information:

    MIL OSI New Zealand News –

  • MIL-OSI Global: When a bishop called on Trump to ‘have mercy’, she was following the old Christian tradition of parrhesia

    Source: The Conversation – UK – By Morwenna Ludlow, Professor of Christian History and Theology, University of Exeter

    Ambrose.

    When Bishop Mariann Budde closed her sermon at the National Prayer Service at Washington National Cathedral on January 21 she called on Donald Trump, who was sitting in front of her, “to have mercy upon the people in our country who are scared now”.

    Trump demanded an apology later the same day from “the so-called Bishop” who he said was “nasty in tone”. Republican congressman Mike Collins even suggested that Budde (a US citizen) should be deported.

    The bishop was building on a long tradition of Christian leaders using bold speech. But the idea of bold speech goes back further – to the concept of “parrhesia” in democratic Athens when every freeborn male citizen had the right to speak freely in public debates.

    French philosopher Michel Foucault highlighted that with the decline of democracy, parrhesia came to mean boldly speaking truth to power. For instance, in the Roman Empire, it meant having the bravery to speak to an emperor, a governor, or one’s master as if one was their equal.

    Early Christians picked up on this use of the term in the New Testament. The Acts of the Apostles describes the arrest of Peter and John for healing and preaching in Jerusalem and recounts that the assembled “rulers, elders and scribes” were amazed to hear such parrhesia from “uneducated and ordinary men”.

    The apostles were so popular that the council released them after vainly threatening them to keep quiet. Peter and John’s own community of followers was even said to be so inspired by their bold example that they prayed to be given parrhesia too, a prayer which was immediately answered by the gift of the Holy Spirit (Acts 4:29, 31). Parrhesia here is seen as a powerful divine gift which enables ordinary people to challenge dominant religious authorities.

    Several sermons on martyrs from John Chrysostom (who was apppointed as the archbishop of Constantinople in AD397) close with exhortations to emulate a martyr’s parrhesia. Chrysostom’s Discourse on Blessed Babylas and against the Greeks describes a bishop who reprimanded an emperor for murdering a child hostage. Chrysostom praises Bishop Babylas for moderate parrhesia, guided by reason, keeping anger and other emotions in check. It recalls the advice of the philosopher Plutarch in “How to tell a flatterer from a friend”: parrhesia must be respectful, in due measure and at the right moment.

    Babylas’s moderate parrhesia produces astonished admiration from the crowd, but it provoked the outraged emperor to order Babylas’ execution.

    Such stories set expectations for the behaviour of bishops even under Christian emperors. Scholars have shown how bishops have exploited their educational and social standing to leverage limited influence with governors and sometimes even emperors.

    Gregory of Nazianzus tells how his friend Basil, a 4th century bishop, faced down the rage of an imperial representative who “roared like a lion till most men dared not approach him”, threatening “confiscation, banishment, torture, death”. When Basil refused to back down, the astonished official declared that no-one had spoken to him with such parrhesia. “Perhaps you’ve not met a bishop before,” Basil replied. “Generally, we know our place and we submit to the law. But where the interests of God are at stake, we care about nothing else.”

    Two of the most famous examples of bishops who exercised parrhesia against imperial authority were the aforementioned Chrysostom and Ambrose (who became bishop of Milan in AD374). Both Chrysostom and Ambrose wrote substantial treatises which (among other things) defended the priest’s right to censure whomever was guilty of sin. Chrysostom warns that fear of powerful authorities causes people to flatter them rather than speaking the truth. Ambrose makes a similar point, reminding his audience that John the Baptist did not flatter King Herod, despite having reason to fear him. These comments resonate with Foucault’s observation that a speaker addressing someone more powerful must choose between flattery and parrhesia.

    Bishop Budde speaking at Washington National Cathedral.

    But the point of these examples is that by the 4th century there was a strong belief that part of the job of being a bishop was being prepared to speak boldly against wrongdoing – even if the wrongdoer was an emperor. And the power of their parrhesia was not so much the success (or otherwise) of their requests, but the way their bold speech sent ripples out into the wider community.

    It is here that we can identify resonances with the case of Bishop Budde. First, parrhesia involves a direct, public but personal appeal to someone who could normally expect to be in authority over the speaker (the Jewish council of elders, a Roman governor).

    The appeal is often made respectfully, but it is still risky and disruptive. It challenges the addressee’s declared vision of the truth, setting against it the speaker’s own sources of authority, including appeals to the divine.

    In Budde’s case too we find this tension between respect and challenge. In an interview for the New Yorker, Budde reflected that she “needed to honor the office of the President and the fact that millions of people placed their trust in him”.

    By addressing Trump respectfully, she acknowledged he had the authority to be merciful. But in drawing on the authority of scripture, Christian tradition and her episcopal role, she challenged the president’s moral authority on key questions of public policy.

    Basil’s parrhesia astonished the imperial representative, but gave his friend Gregory a model for his own episcopal ministry. Similarly, Budde had a two-fold audience in mind. She used parrhesia respectfully but firmly to challenge the authority of a powerful person who did not expect to be challenged and was outraged when they were.

    It is evident that Budde’s past experience of criticising Trump (she commented in the New York Times about Trump posing for a photo with a Bible in 2020) left her in no doubt that her “audacious” direct appeal to the president would bring anger on herself. But she also addressed a wider audience, intending that “people overhearing me talk to Trump” would hear words of solidarity and hope for them.

    The power of Budde’s speech does not depend on the success of her appeal for mercy but in the disruptive nature of her challenge to Trump’s moral authority and the way it rippled out into wider audiences, provoking astonishment, anger or praise.

    History prompts us to look harder at the power dynamics that create such varied and highly charged emotional responses. Now, as in the ancient world, it is in the absence of an open hearing for all, when bold speech is needed.

    Morwenna Ludlow will receive funding from the Leverhulme Trust for a project on ‘God and Good Speech’ for two years from September 2025. She is a priest in the Church of England and has an honorary role as Canon Theologian at Exeter Cathedral.

    – ref. When a bishop called on Trump to ‘have mercy’, she was following the old Christian tradition of parrhesia – https://theconversation.com/when-a-bishop-called-on-trump-to-have-mercy-she-was-following-the-old-christian-tradition-of-parrhesia-248494

    MIL OSI – Global Reports –

  • MIL-OSI Australia: Child bitten by dingo at Yidney Rocks

    Source: Government of Queensland

    Issued: 17 Feb 2025

    Open larger image

    The Queensland Parks and Wildlife Service (QPWS) is investigating an incident on K’gari after a twelve-year-old boy was bitten on the back by a tagged dingo near Yidney Rocks.

    Around 12:15pm on Sunday 16 January 2025, two children and an adult were playing in shallow water when the male dingo approached him from behind and bit him.

    Nearby fishers ran to assist and attempted to deter the dingo with a stick. The dingo moved away but followed the group back to their accommodation.

    The group were carrying a dingo stick but put it on nearby rocks before entering the water. The boy was treated by paramedics for superficial puncture wounds and a laceration.

    When rangers attended the scene, the dingo was still in the area. Rangers have identified the dingo from photographs and provided Be dingo-safe information to fishers and staff at the private accommodation.

    Rangers will monitor the dingo and provide further education to residents and visitors to the island.

    People are urged to always carry a dingo stick. Fishers are advised to move dingoes on immediately and not let them linger nearby.

    Report any concerning dingo encounters by calling 07 4127 9150 or emailing dingo.ranger@des.qld.gov.au

    Visitors to K’gari are reminded to Be dingo-safe! at all times:

    • Always stay close (within arm’s reach) to children and young teenagers
    • Always walk in groups and carry a stick
    • Never feed dingoes
    • Camp in fenced areas where possible
    • Do not run. Running or jogging can trigger a negative dingo interaction
    • Lock up food stores and iceboxes (even on a boat)
    • Never store food or food containers in tents, and
    • Secure all rubbish, fish and bait.

    For more information go to K’gari dingoes.

    MIL OSI News –

  • MIL-OSI: Societe Generale: Information regarding executed transactions within the framework of a share buyback program (outside the liquidity agreement)

    Source: GlobeNewswire (MIL-OSI)

    INFORMATION REGARDING EXECUTED TRANSACTIONS WITHIN THE FRAMEWORK OF A SHARE BUYBACK PROGRAM (OUTSIDE THE LIQUIDITY AGREEMENT)

    Regulated Information

    Paris, 17 February 2025

    (In accordance with article 5 of Regulation (EU) No 596/2014 on Market Abuse Regulation and article 3(3) of Delegated Regulation (EU) 2016/1052 supplementing Regulation (EU) No 596/2014 through regulatory technical standards concerning the conditions applicable to buyback programs and stabilization measures)

    As announced on Thursday 6 February 2025, Societe Generale started on Monday 10 February 2025, an ordinary share buyback program for EUR 872 million for the purpose of shares cancellation.

    Societe Generale received all necessary authorizations from supervisory authorities. These buybacks will be carried out in compliance with the conditions, notably regarding the maximum price, set forth by the General Meeting of 22 May 2024 and presented in the description released on 17 May 2024, as well as in accordance with the Market Abuse Regulation. They are performed on the trading platforms on which Societe Generale shares are listed for trading or are traded, including the regulated market of Euronext Paris.

    Purchases performed during the period from 10 to 14 February 2025 are described below. As of February 14, 2025, Societe Generale has completed 12% of its share buyback program, representing 0.4%* of its share capital.

    The liquidity contract concluded with Rothschild has also temporarily been suspended throughout the buyback period.

    Issuer name: Societe Generale – LEI O2RNE8IBXP4R0TD8PU41

    Reference of the financial instrument: ISIN FR0000130809

    Period: From 10 to 14 February 2025

    * Ratio between the number of shares repurchased and the 800,316,777 shares comprising the current share capital.

    Purchases performed by Societe Generale during the period

    Aggregated presentation by day and market

    Issuer name Issuer code (LEI) Transaction date ISIN Code Daily total volume (in number of shares) Daily weighted average price of shares acquired Platform
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 362 124 35,7689 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 199 120 35,7415 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 25 000 35,7473 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 15 000 35,7792 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 398 546 36,1667 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 165 000 36,1551 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 19 000 36,1305 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 12 000 36,1520 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 345 676 37,1056 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 150 000 37,0716 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 19 000 37,0939 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 11 000 37,0842 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 305 947 37,2202 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 202 000 37,2104 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 28 000 37,1090 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 15 000 37,1341 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 347 390 36,9117 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 176 000 36,9096 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 20 000 36,9106 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 12 000 36,9131 AQEU
          TOTAL 2 827 803 36,6008  

    Press contacts:

    Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
    Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com

    Societe Generale

    Societe Generale is a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    In case of doubt regarding the authenticity of this press release, please go to the end of the Group News page on societegenerale.com website where official Press Releases sent by Societe Generale can be certified using blockchain technology. A link will allow you to check the document’s legitimacy directly on the web page.

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.

    Attachment

    The MIL Network –

  • MIL-OSI: Correction: Interim Management Statement Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    Correction to the announcement made at 07:00 on 17/02/2025 (Interim Management Statement Q1 2025): The RNS was dated incorrectly. All other information was correct:

    17 February 2025

    HARGREAVE HALE AIM VCT PLC
    (the “Company”)

    Interim Management Statement

    Q1 2025

    Introduction

    This interim management statement covers the first quarter of the 2024/25 financial year, 1 October 2024 to 31 December 2024. Investment performance measures contained in this report are calculated on a pence per share basis and include realised and unrealised gains and losses.

    Overview

    Once again, we have endured a difficult start to the financial year, albeit for very different reasons. The 2024 Autumn budget, preceded by some unhelpfully stark messaging, has weighed on economic activity. GDP, employment reports and PMI surveys all highlight a notable softening in the UK economy through the second half of (cal.) 2024.

    Measures of UK consumer and business confidence dipped, suggesting that households and companies were becoming increasingly cautious. Although a very significant increase in public spending is expected to support economic activity pickup in 2025, there is clear evidence that The Office for Budget Responsibility forecast for GDP to increase from 1.1% in 2024 to 2.0% in 2025 is likely to be revised lower when next updated.

    UK fiscal policy is seen as being negative to growth and positive for inflation. In the round, this adds up to fewer rate cuts in 2025. With higher inflation and lower growth undermining the case for lending to the UK Government, UK Gilt yields broke out to the upside and Sterling to the downside. The move higher in borrowing costs was exacerbated by higher yields in the US Treasuries market. The Government is on the back foot and will need to respond before the 2025 Autumn budget.

    None of this has been helpful for investor interest in UK equities with outflows increasing again after a period of improving sentiment through the early Summer. This was particularly acute for AIM and, more broadly, the IA UK Small Cap sector.

    Reflecting this, the FTSE AIM All-Share Index was noticeably weak ahead of and subsequent to the budget, with the index steadily declining for 7 months through to 31 December 2024. Within the period, the AIM All-Share index returned -2.32% in the three months to 31 December 2024, lagging the FTSE All Share Index (-0.35%). We continue to believe that many small companies trading on AIM offer exceptional value.

    Performance

    In the three months to 31 December 2024, the unaudited NAV per share decreased by 0.40 pence from 40.55 pence (cum-dividend) to 40.15 pence, giving a total return of -0.99%.

    The qualifying investments fell by 0.09 pence per share whilst the non-qualifying investments made a loss of 0.25 pence per share. The adjusting balance was the net of running costs and investment income.

    Qualifying Investments

    Aquis Exchange (+93.1%, +£1.66m) received a takeover offer from its larger Swiss peer SIX Exchange at 727p. This was a 120% premium to the previous closing price, a 45% premium to the average share price over the prior 12 months and slightly above the 2021 share price high of 720p. This equates to an exit multiple of 4.7x for the VCT. The transaction was approved on 18 December 2024 and is expected to complete in Q2 2025.

    PCI-PAL (+30.3%, +£1.09m) reported good FY24 results with revenues +20% to £18.0m and positive EBITDA of £0.9m. The company also reported strong SAAS metrics with ARR growing by 23%, Net Retention Rate at 102% and low churn. Following a £3.3m fundraise in March 2024, the balance sheet is strong with £4.3m cash. Positive news flow continued subsequently with a key contract renewal and in-line AGM trading update. Post period end, the company reported strong trading for the 6m to 31 December 2025 and re-iterated guidance for FY25.

    Cohort (+15.0%, +£0.65m) announced strong interim results for the 6m to 31 October 2024 with revenues increasing by 25% and a record order book of £541m. The company confirmed it remains on track to achieve market forecasts for FY25. Separately, Cohort announced the £74m acquisition of Australian-based satellite communications company EM Solutions. The acquisition was partly funded through existing cash & debt facilities, combined with a £40m fundraise at 875p.

    Following weak financial performance in FY24, Equipmake (-40.0%, -£0.93m) raised £3m in October 2024. The additional capital, when combined with cost action, has extended the company’s cash runway to March 2025. This was followed by the subsequent launch of a strategic review and a formal sale process.

    Fadel (-42.9%, -£0.72m) saw customer implementation delays and an unsuccessful new business tender. Revenue forecasts for FY24 were reduced by 12% from $14.8m to $13m. The high drop through of revenues to profits meant that projected FY24 EBITDA losses increased from $2.3m to $4m. The company has adopted a more disciplined approach to cost that has yielded an improved outlook for losses and cash performance in 2025.

    Team Internet (-27.7%, -£0.43m) shares fell sharply in Q4 2024 as the company announced that revenues at a recently acquired online marketing business Shinez would fall short of expectations. More recently the shares have begun to recover as the company announced it had received a preliminary takeover proposal.

    Non-Qualifying Investments

    The IFSL Marlborough UK Micro-Cap Growth Fund (+0.6%, +£0.06m) and IFSL Marlborough Special Situations Fund (-1.3%, -£0.13m) were broadly flat over the period. Within the non-qualifying portfolio, the weaker outlook for the UK economy following the Autumn budget impacted WH Smith, Wickes and Hollywood Bowl. Chemring also fell as earnings forecasts were impacted by rising national insurance costs and the curtailment of the company’s share buy-back in favour of preserving funds for organic investment.

    Portfolio structure

    The VCT is comfortably above the HMRC defined investment test and ended the period at 87.5% invested as measured by the HMRC investment test. By market value, the weighting to qualifying investments increased from 56.0% to 56.9%.

    The market remains very subdued with just two VCT qualifying IPOs within the last 12 months. There were two new equity investments into companies listed on AIM and one CLN into an existing portfolio company listed on AIM. We remain hopeful that improving market conditions will help drive an increase in deal flow during 2025.

    The new qualifying investments included a following on (CLN) investment into Rosslyn Data Technologies and new equity investments into Feedback and Ixico. There were no material disposals in the quarter. We sold two legacy tail investments (Gfinity and Surface Transforms) and trimmed our investment in Cohort following a period of strong share price performance.

    There were no substantial changes to the allocation to the two IFSL Marlborough Funds, non-qualifying equities, fixed income, ETFs or cash which respectively represented 13.4%, 6.8%, 12.9%, 0.4% and 9.6% of net assets.

    The HMRC investment tests are set out in Chapter 3 of Part 6 Income Tax Act 2007, which should be read in conjunction with this interim management statement. Funds raised by VCTs are first included in the investment tests from the start of the accounting period containing the third anniversary of the date on which the funds were raised. Therefore, the allocation of qualifying investments as defined by the legislation can be different to the portfolio weighting as measured by market value relative to the net assets of the VCT.

    Share Buy Backs & Discount

    3.9 million shares were acquired in the quarter at an average price of 38.27 pence per share. The share price decreased from 39.00p to 38.40p and on 31 December 2024 traded at a discount of 4.74% to the last published NAV per share (as at 27 December 2024, published on 31 December 2024).

    Post Period End

    The unaudited NAV per share increased from 40.15 pence to 40.22 pence (cum div) as at 7 February 2025, an increase of 0.17%. The FTSE AIM All-Share index increased by 0.09%.         

    END

    For further information please contact:

    Oliver Bedford, Canaccord Genuity Asset Management

    Tel: 020 7523 4837

    LEI: 213800LRYA19A69SIT31        

    The MIL Network –

  • MIL-OSI: ACET (ACT) Secures MOU with Saif Belhasa Holding, Paving the Way for Blockchain-Powered Finance in the UAE

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 17, 2025 (GLOBE NEWSWIRE) — ACET (ACT), a global blockchain-driven digital asset, has signed a landmark Memorandum of Understanding (MOU) with Saif Belhasa Holding (SBH), one of the most influential business conglomerates in the Middle East and UAE. This collaboration is set to revolutionize the region’s digital economy, integrating ACET (ACT) into financial transactions across various industries within the SBH ecosystem.

    Since Donald Trump became President with pro-crypto policies, ACET (ACT) has witnessed a remarkable price surge of over 100%, reflecting heightened market confidence and increased adoption of blockchain-based financial solutions.

    A Strategic Partnership with Multi-Billion-Dollar Impact

    The agreement, signed on February 13, 2025, marks a significant milestone for both ACET (ACT) and SBH. Led by Dr. Saif Ahmad Belhasa, SBH manages a diverse business empire spanning real estate, construction, automotive, retail, education, and finance, with a corporate valuation exceeding $5 billion USD.

    This partnership is structured around a three-year roadmap to integrate ACET (ACT) as a key financial instrument within SBH’s operations, focusing on:

    • Real Estate – ACET (ACT) will facilitate luxury real estate transactions, with plans to implement NFT-based Property Tokenization for fractional ownership.
    • Automotive – Customers will be able to purchase and lease luxury vehicles from SBH dealerships using ACET (ACT), along with crypto-backed financing options.
    • Retail & Hospitality – ACET (ACT) will be accepted in malls, restaurants, hotels, and other SBH-affiliated businesses, offering exclusive VIP perks and discounts for token holders.
    • Financial Services – The partnership will introduce blockchain-powered financial products, including staking, lending, and investment funds tailored for institutional investors and family offices.
    • Smart Contracts & AI Integration – ACET (ACT) will be embedded into SBH’s financial infrastructure, enabling automated transactions, asset transfers, and AI-enhanced business solutions.
    • Institutional Expansion & Government Collaboration – The initiative aims to align with UAE’s financial regulations, securing recognition from Dubai’s Virtual Asset Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM).

    Crypto Market Reacts: ACET (ACT) Gains Momentum

    Following the MOU announcement, crypto investors and influencers across the world have hailed this deal as a game-changer for real-world-asset (RWA) crypto adoption. The market response has been overwhelmingly bullish, fueling a viral hashtags like #iHoldACT, #ACTxSBH, #ACTRWA and #ACT100X dominating discussions.

    Industry Leaders on the Partnership

    Acme Worawat, founder of ACT (ACET) and one of Asia’s largest Bitcoin holders, emphasized:

            “This partnership transforms ACET (ACT) into a fundamental component of the UAE’s digital economy. With SBH’s global presence, ACET (ACT) is poised for exponential growth beyond the Middle East, driving mainstream crypto adoption worldwide.”

    Dr. Saif Ahmad Belhasa, Chairman of SBH, added:

            “This MOU marks SBH’s bold step into blockchain finance, positioning us as a leader in digital payments. ACET (ACT) will be officially integrated into our financial ecosystem, making crypto a mainstream financial tool in the UAE and beyond.”

    About ACET (ACT) & SBH

    ACET (ACT) was founded in 2021 by Acme Worawat, a veteran crypto investor with over 13 years of experience. With a current trading volume of $412million (Approximately 14Billion THB) and over 156,000 holders worldwide, ACET (ACT) is rapidly emerging as a top-tier digital asset.

    Saif Belhasa Holding (SBH), established in 2001, is one of the most powerful business groups in the UAE, with a vast portfolio spanning 50+ subsidiaries and over 10,000 employees across various industries.

    With this partnership, ACET (ACT) is set to become one of the most widely adopted cryptocurrencies in institutional finance and real-world commerce. The bull run is on!

    Social Links:

    X: https://x.com/ACTDeFansFi

    Telegram: https://t.me/ACTAcet

    Media contact:
    Brand: ACET
    Contact: Corporate Communication Division
    Email: media@acet.finance
    Website: https://acet.finance/

    Disclaimer: This content is provided by Acet Finance. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/62035c52-66f6-48e1-903e-015fa27ee8db

    The MIL Network –

  • MIL-OSI Global: Who are Ismaili Muslims and how do their beliefs relate to the Aga Khan’s work?

    Source: The Conversation – USA – By Shariq Siddiqui, Assistant Professor of Philanthropic Studies, Indiana University

    Prince Karim Aga Khan at an event on Oct. 2, 2019, in London. Max Mumby/Indigo/Getty Images

    Prince Karim Aga Khan, who died on Feb. 4, 2025, served as the religious leader of Ismaili Muslims around the world since being appointed as the 49th hereditary imam in 1957. He came to be known around the world for his enormous work on global development issues and other philanthropic work.

    The Ismaili community considers the imam a direct descendant of the Prophet Muhammad. Ismaili Muslims are considered to be a branch of Shiite Islam. They constitute the second-largest community within the Shiite sect.

    An estimated 15 million Ismaili Muslims live in 35 countries, across all parts of the world. In the U.S., with around 40,000 Ismailis, Texas has the largest concentration of the community.

    As a scholar of Muslim philanthropy, I have long been impressed by the philanthropic and civic engagement of the Ismailis.

    Ismaili religious beliefs

    Following the death of the Prophet in A.D. 632, differences emerged over who should have both political and spiritual control over the Muslim community. A majority chose Abu Bakr, one of the Prophet’s closest companions, while a minority put their faith in his son-in-law and cousin, Ali. Those Muslims who put their faith in Abu Bakr came to be called Sunni, and those who believed in Ali came to be known as Shiite.

    Like other Shiite sects, Ismailis believe that Ali should have been selected as the successor of the Prophet Muhammad. They also believe that he should have been followed by Ali’s two sons – the grandsons of Muhammad through his daughter Fatima.

    The key difference among other Shiites and Ismailis lies in their lineage of imams. While they agree with the first six imams, Ismailis believe that Imam Ismail ibn Jafar was the rightful person to be the seventh imam, while the majority of Shiites, known as Twelvers, believe that Imam Musa al-Kazim, Ismail’s younger brother, was the true successor. They both agree that Ali was the first imam and on the next five imams, who are direct descendant of Ali and Fatima.

    The Ismaili sect split into two branches in 1094. Aga Khan was the leader of the Nizari branch, which believes in a living imam or leader. The second branch – Musta’lian Tayyibi Ismailis – believes that its 21st imam went into “concealment”; in his physical absence, a vicegerent or “da’i mutlaq” acts as an authority on his behalf.

    Like all Muslims, Ismailis believe that God sent his revelation to the Prophet Muhammad through Archangel Gabriel. However, they differ on other interpretations of the faith. According to the Ismailis, for example, the Quran conveys allegorical messages from God, and it is not the literal word of God. They also believe Muhammad to be the living embodiment of the Quran. Ismailis are strongly encouraged to pray three times a day, but it is not required.

    Ismailis believe in metaphorical, rather than literal, fasting. Ismailis believe that the esoteric meaning of fasting involves a fasting of the soul, whereby they attempt to purify the soul simply by avoiding sinful acts and doing good deeds.

    In terms of “Zakat,” or charity – the third pillar of Islam, which Muslims are required to follow – Ismailis differ in two ways. They give it to the leader of their faith, Aga Khan, and believe that they have to give 12.5% of their income versus 2.5%.

    Pluralism and its embrace

    Ismaili history has a strong connection to pluralism – part of their philosophy of embracing difference. The Fatimid Empire that ruled over parts of North Africa and the Middle East from 909 to 1171 is said to have been a “golden age of Ismaili thought.”

    It was a pluralistic community, in which Shiite and Sunni Muslims, as well as Christian and Jewish communities, worked together for the success of the flourishing empire, under the rule of the Ismaili imams.

    In the modern period, Ismailis have sought to further pluralism within their own communities by arguing that pluralism goes beyond tolerance and requires people to actively engage across differences and actively embrace difference as a strength. For example, Eboo Patel, an Ismaili American, has established the nonprofit Interfaith America as a way to further pluralism among faith communities.

    The Aga Khan’s philanthropic work

    Prince Karim Aga Khan established the Aga Khan Development Network and Aga Khan Foundation in 1967.

    Some 53 nurses and 98 midwives from Ghazanfar Institute of Health Sciences, supported by The Aga Khan University in Karachi, Pakistan, and the United States Agency for International Development, attend a graduation ceremony in Kabul, Afghanistan, on March 29, 2009.
    Massoud Hossaini AFP via Getty Images

    The network supports health care, housing, education and rural economic development in underprivileged areas. The foundation is one of nine agencies of the network that focuses on philanthropy. The Aga Khan Development Network has hospitals serving the poor in several parts of the world. The Aga Khan Medical University in Karachi, Pakistan, is considered to be a leading medical school globally.

    While previous imams or leaders also led charity and development projects, the Aga Khan was the first to create a formal, global philanthropic foundation.

    The Aga Khan Foundation operates in countries with Ismaili populations or historical connections to the Ismaili community, such as Afghanistan, Egypt, India, Kenya, Kyrgyzstan, Madagascar, Mozambique, Pakistan, Portugal, Syria, Tajikistan, Tanzania and Uganda. The foundation also has offices in Australia, Canada, the United Kingdom and the United States, focusing primarily on raising funds and advocating for the foundation.

    According to the foundation, in 2023 it served over 20 million people through 23,310 civil society partner organizations.

    The Ismaili community will now be led by the Aga Khan’s eldest son, Rahim Al-Hussaini, as the 50th imam. He has been actively involved with the Aga Khan Development Network and is expected to continue the important philanthropic and development work of his global community.

    Shariq Siddiqui does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Who are Ismaili Muslims and how do their beliefs relate to the Aga Khan’s work? – https://theconversation.com/who-are-ismaili-muslims-and-how-do-their-beliefs-relate-to-the-aga-khans-work-249318

    MIL OSI – Global Reports –

  • MIL-OSI Economics: Samsung Wallet Expands Digital Key Support for Select Volvo Cars and Polestar Vehicles

    Source: Samsung

     
    Samsung Electronics today announced Digital Key compatibility with select Volvo Cars1 and Polestar2 vehicles through Samsung Wallet, offering more drivers a seamless way to use their Galaxy smartphone to unlock, lock and start their vehicle.
     
    “Expanding Samsung Digital Key access is an important part of our commitment to offering connected, secure experiences within the Galaxy ecosystem,” said Woncheol Chai, EVP and Head of the Digital Wallet Team, Mobile eXperience Business at Samsung Electronics. “Our partnership with automakers such as Volvo Cars and Polestar marks another exciting step forward in making everyday activities like driving hassle-free for more Galaxy users worldwide.”
     

     
    ▲ Volvo EX90
     
    ▲ Polestar 3
     
    Built directly into Galaxy devices, Digital Key3 lets users lock, unlock and start the paired vehicle without a physical key. Digital Key offers three ways to control the car: Ultra-wideband (UWB)4 for hands-free access, Near Field Communication (NFC) for tap-to-unlock and start, and Bluetooth low energy (BLE) control via Samsung Wallet. Users can also share Digital Keys with friends and family across OEM devices, managing access as needed.
     
    Samsung Digital Key meets EAL6+5 certification standards, the top-level security for smart devices, to protect against unauthorized access by ensuring secure embedding within the device. UWB technologies, a standardized communication protocol set by the Car Connectivity Consortium (CCC), further reduce the risk of unauthorized vehicle access with precise and reliable functionality. If a device containing a Samsung Digital Key is lost or stolen, users can remotely lock or delete their Digital Key via Samsung Find. Biometric and PIN-based user authentication on Samsung Wallet ensures that every interaction remains secure and private.
     
    Launched in June 2022, Samsung Wallet is a versatile platform that allows Galaxy users to organize Digital Keys, payment methods, identification cards and more in one secure application. Protected by defense-grade security from Samsung Knox and integrated across the Galaxy ecosystem, Samsung Wallet provides seamless connectivity and enhanced security for users in their everyday lives.
     
     
    Availability
    Samsung Digital Key functionality for select Volvo Cars vehicles will roll out starting this month in Europe, North America, Latin America and Asia.6 Samsung Digital Key functionality for select Polestar vehicles will roll out starting this month in Europe, North America and Asia.7
     
     
    About Volvo Car Group
    Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.
     
    “For life. To give people the freedom to move in a personal, sustainable and safe way.” This purpose is reflected in Volvo Cars’ ambition to become a fully electric car maker and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to achieve net-zero greenhouse gas emissions by 2040.
     
    As of December 2024, Volvo Cars employed approximately 42,600 full-time employees. Volvo Cars’ head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars’ production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).
     
    About Polestar
    Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 27 markets globally across North America, Europe and Asia Pacific.
     
    Polestar has three models in its line-up: Polestar 2, Polestar 3 and Polestar 4. Planned models include the Polestar 5 four-door GT (to be introduced in 2025), the Polestar 6 roadster and the Polestar 7 compact SUV. With its vehicles currently manufactured on two continents, North America and Asia, Polestar plans to diversify its manufacturing footprint further, with production of Polestar 7 planned in Europe.
     
    Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar’s comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity and Inclusion.
     
     

    1 Volvo vehicles supporting Digital Key include: Volvo EX90. More vehicles will follow.2 Polestar vehicles supporting Digital Key include: Polestar 3. More vehicles will follow.3 Samsung Wallet Digital Key support is available on select devices, including: Galaxy S20 Ultra/S20+/S20, S21 Ultra/S21+/S21/S21 FE, S22 Ultra/S22+/S22, S23 Ultra/S23+/S23/S23 FE, S24 Ultra/S24+/S24/S24 FE, S25 Ultra/S25+/S25, Note20 Ultra/Note20, Z Fold2, Z Fold3, Z Fold4, Z Fold5, Z Fold6, Z Flip 5G, Z Flip3, Z Flip4, Z Flip5, Z Flip6.4 UWB support is available on select devices, including: Galaxy S21 Ultra/S21+, S22 Ultra/S22+, S23 Ultra/S23+, S24 Ultra/S24+, S25 Ultra/S25+, Note20 Ultra, Z Fold2, Z Fold3, Z Fold4, Z Fold5, Z Fold6.5 Evaluation Assurance Level 6 Augmented (EAL6+) is one of the highest security certifications within Common Criteria, an internationally recognized standard for computer security certification.6 Digital Key rollout for Volvo in Asia begins in Australia, Malaysia and Thailand.7 Digital Key rollout for Polestar in Asia begins in Australia, New Zealand, Hong Kong and Singapore.

    MIL OSI Economics –

  • MIL-OSI Africa: Why is there so much gold in west Africa?

    Source: The Conversation – Africa – By Raymond Kazapoe, Senior lecturer, University for Development Studies

    Militaries that have taken power in Africa’s Sahel region – notably Mali, Burkina Faso and Niger – have put pressure on western mining firms for a fairer distribution of revenue from the lucrative mining sector.

    Gold is one of the resources at the heart of these tensions. West Africa has been a renowned gold mining hub for centuries, dating back to the ancient Ghana empire, which earned its reputation as the “Land of Gold” because of its abundant reserves and thriving trade networks. The region remains a global leader in gold production. As of 2024, west Africa contributed approximately 10.8% of the world’s total gold output.

    But why is there so much gold in this region? The Conversation Africa asked geologist Raymond Kazapoe to explain.

    How is gold formed?

    The simple answer here is that we are not certain. However, scientists have some ideas.

    Gold, like all elements, formed through high energy reactions that occurred in various cosmic and space environments some 13 billion years ago, when the universe started to form.

    However, gold deposits – or the concentration of gold in large volumes within rock formations – are believed to occur through various processes, explained by two theories.

    The first theory – described by geologist Richard J. Goldfarb – argues that large amounts of gold were deposited in certain areas when continents were expanding and changing shape, around 3 billion years ago. This happened when smaller landmasses, or islands, collided and stuck to larger continents, a process called accretionary tectonics. During these collisions, mineral-rich fluids moved through the Earth’s crust, depositing gold in certain areas.

    A quartz vein rock specimen with visible gold. Mangiwau/Getty Images

    A newer, complementary theory by planetary scientist Andrew Tomkins explains the formation of some much younger gold deposits during the Phanerozoic period (approximately 650 million years ago). It suggests that as the Earth’s oceans became richer in oxygen during the Phanerozoic period, gold got trapped within another mineral known as pyrite (often called fool’s gold) as microscopic particles. Later, geological processes – like continental growth (accretion) and heat or pressure changes (metamorphism) released this gold – forming deposits that could be mined.

    Where in west Africa is gold found and what are its sources?

    Most gold production and reserves in west Africa are found within the west African craton. This is one of the world’s oldest geological formations, consisting of ancient, continental crust that has remained largely unchanged for billions of years.

    West African Craton. Wikipedia

    The craton underlies much of west Africa, spanning parts of Mali, Ghana, Burkina Faso, Côte d’Ivoire, Guinea, Senegal and Mauritania. In fact, most west African countries that have significant gold deposits have close to 50% of their landmass on the craton. Notably, between 35% and 45% of Ghana, Mali and Côte d’Ivoire’s territory sits on it – which is why these areas receive so much attention from gold prospectors.

    Gold deposits were formed within west Africa’s craton rocks during a major tectonic event, known as the Eburnean Orogeny, 2.2 billion to 2.08 billion years ago. This event was accompanied by the temperature, pressure and tectonic conditions which promote gold mineralisation events. Most of the gold resources in the west African craton are found within ancient geological formations formed by volcanic and tectonic processes about 2.3 billion to 2.05 billion years ago. These are known as the Rhyacian Birimian granitoid-greenstone belts.

    These gold-bearing belts in Ghana and Mali are by far the most endowed when compared with other countries in the region. Ghana and Mali currently, cumulatively account for over 57% of the combined past production and resources of the entire west Africa sub-region.

    Gold bearing geological structures in Ghana. Gerhard Michael Free/Shutterstock

    Ghana is thought to be home to 1,000 metric tonnes of gold. The country produces 90 metric tonnes each year – or 7% of global production. Gold production in Mali reached around 67.7 tonnes in 2023. Mali has an estimated 800 tons of gold deposits.

    By comparison, the world’s two largest gold producers are China (which mined approximately 370 metric tonnes of gold in 2023) and Australia (which had an output of around 310 metric tonnes in 2023).

    What are some of the modern exploration tools used to find gold?

    Gold was traditionally found by panning in riverbeds, where miners swirled sediment in water to separate the heavy gold particles, or by digging shallow pits to extract gold-rich ores. Over time, methods have evolved to include geochemical exploration techniques, advanced geophysical surveys, and chemical extraction techniques, like cyanide leaching.

    Geological mapping techniques are always evolving, and at the moment, there is a lot of interest in combining remote sensing data with cutting-edge data analytics methods, like machine learning. By combining these two methods, geologists can get around some of the problems caused by traditional methods, like the reliance on subjective judgement to create reliable maps and the need to spend money prospecting in areas with low chances of success.

    In recent years, deep learning computer techniques have made significant progress. They examine various geological data-sets to reduce uncertainty and increase the chances of finding gold mineralisation through advanced artificial intelligence techniques. These methods have proved highly beneficial in identifying specific features and discovering new mineral deposits when applied to remote sensing data.

    Another method, which I’ve researched and which could serve as a complementary gold exploration tool, is the use of stable isotopes. Stable isotopes are elements – like carbon, hydrogen and oxygen – that do not decay over time. Some are responsible for helping to carry gold, in fluids, through rocks to form the deposits. As the gold-bearing fluids interact with the rocks, they transfer the stable isotopes to the rocks, thereby imbuing them with their unique signature. The thinking here is to identify the signature and then use it as a proxy for finding gold, since gold itself is hard to identify directly.

    Advancements in analytical techniques have reduced the cost, volume, and time involved. This makes it a viable alternative to geochemical approaches – the most widely used and relatively efficient method.

    – Why is there so much gold in west Africa?
    – https://theconversation.com/why-is-there-so-much-gold-in-west-africa-248599

    MIL OSI Africa –

  • MIL-OSI Global: Why is there so much gold in west Africa?

    Source: The Conversation – Africa – By Raymond Kazapoe, Senior lecturer, University for Development Studies

    Militaries that have taken power in Africa’s Sahel region – notably Mali, Burkina Faso and Niger – have put pressure on western mining firms for a fairer distribution of revenue from the lucrative mining sector.

    Gold is one of the resources at the heart of these tensions. West Africa has been a renowned gold mining hub for centuries, dating back to the ancient Ghana empire, which earned its reputation as the “Land of Gold” because of its abundant reserves and thriving trade networks. The region remains a global leader in gold production. As of 2024, west Africa contributed approximately 10.8% of the world’s total gold output.

    But why is there so much gold in this region? The Conversation Africa asked geologist Raymond Kazapoe to explain.

    How is gold formed?

    The simple answer here is that we are not certain. However, scientists have some ideas.

    Gold, like all elements, formed through high energy reactions that occurred in various cosmic and space environments some 13 billion years ago, when the universe started to form.

    However, gold deposits – or the concentration of gold in large volumes within rock formations – are believed to occur through various processes, explained by two theories.

    The first theory – described by geologist Richard J. Goldfarb – argues that large amounts of gold were deposited in certain areas when continents were expanding and changing shape, around 3 billion years ago. This happened when smaller landmasses, or islands, collided and stuck to larger continents, a process called accretionary tectonics. During these collisions, mineral-rich fluids moved through the Earth’s crust, depositing gold in certain areas.

    A newer, complementary theory by planetary scientist Andrew Tomkins explains the formation of some much younger gold deposits during the Phanerozoic period (approximately 650 million years ago). It suggests that as the Earth’s oceans became richer in oxygen during the Phanerozoic period, gold got trapped within another mineral known as pyrite (often called fool’s gold) as microscopic particles. Later, geological processes – like continental growth (accretion) and heat or pressure changes (metamorphism) released this gold – forming deposits that could be mined.

    Where in west Africa is gold found and what are its sources?

    Most gold production and reserves in west Africa are found within the west African craton. This is one of the world’s oldest geological formations, consisting of ancient, continental crust that has remained largely unchanged for billions of years.

    The craton underlies much of west Africa, spanning parts of Mali, Ghana, Burkina Faso, Côte d’Ivoire, Guinea, Senegal and Mauritania. In fact, most west African countries that have significant gold deposits have close to 50% of their landmass on the craton. Notably, between 35% and 45% of Ghana, Mali and Côte d’Ivoire’s territory sits on it – which is why these areas receive so much attention from gold prospectors.

    Gold deposits were formed within west Africa’s craton rocks during a major tectonic event, known as the Eburnean Orogeny, 2.2 billion to 2.08 billion years ago. This event was accompanied by the temperature, pressure and tectonic conditions which promote gold mineralisation events. Most of the gold resources in the west African craton are found within ancient geological formations formed by volcanic and tectonic processes about 2.3 billion to 2.05 billion years ago. These are known as the Rhyacian Birimian granitoid-greenstone belts.

    These gold-bearing belts in Ghana and Mali are by far the most endowed when compared with other countries in the region. Ghana and Mali currently, cumulatively account for over 57% of the combined past production and resources of the entire west Africa sub-region.

    Ghana is thought to be home to 1,000 metric tonnes of gold. The country produces 90 metric tonnes each year – or 7% of global production. Gold production in Mali reached around 67.7 tonnes in 2023. Mali has an estimated 800 tons of gold deposits.

    By comparison, the world’s two largest gold producers are China (which mined approximately 370 metric tonnes of gold in 2023) and Australia (which had an output of around 310 metric tonnes in 2023).

    What are some of the modern exploration tools used to find gold?

    Gold was traditionally found by panning in riverbeds, where miners swirled sediment in water to separate the heavy gold particles, or by digging shallow pits to extract gold-rich ores. Over time, methods have evolved to include geochemical exploration techniques, advanced geophysical surveys, and chemical extraction techniques, like cyanide leaching.

    Geological mapping techniques are always evolving, and at the moment, there is a lot of interest in combining remote sensing data with cutting-edge data analytics methods, like machine learning. By combining these two methods, geologists can get around some of the problems caused by traditional methods, like the reliance on subjective judgement to create reliable maps and the need to spend money prospecting in areas with low chances of success.

    In recent years, deep learning computer techniques have made significant progress. They examine various geological data-sets to reduce uncertainty and increase the chances of finding gold mineralisation through advanced artificial intelligence techniques. These methods have proved highly beneficial in identifying specific features and discovering new mineral deposits when applied to remote sensing data.

    Another method, which I’ve researched and which could serve as a complementary gold exploration tool, is the use of stable isotopes. Stable isotopes are elements – like carbon, hydrogen and oxygen – that do not decay over time. Some are responsible for helping to carry gold, in fluids, through rocks to form the deposits. As the gold-bearing fluids interact with the rocks, they transfer the stable isotopes to the rocks, thereby imbuing them with their unique signature. The thinking here is to identify the signature and then use it as a proxy for finding gold, since gold itself is hard to identify directly.

    Advancements in analytical techniques have reduced the cost, volume, and time involved. This makes it a viable alternative to geochemical approaches – the most widely used and relatively efficient method.

    Raymond Kazapoe receives funding from the African Union and Pan African University to carry out some of the research referenced in this article

    – ref. Why is there so much gold in west Africa? – https://theconversation.com/why-is-there-so-much-gold-in-west-africa-248599

    MIL OSI – Global Reports –

  • MIL-OSI Global: Too distracted to watch? Netflix has the perfect ‘second-screen’ show for you

    Source: The Conversation – Canada – By Daphne Rena Idiz, Postdoctoral fellow, Department of Arts, Culture and Media, University of Toronto

    Overly expository dialogue, repeating plot points and lots of voice-overs to narrate action help distracted viewers along. (Shutterstock)

    Netflix knows we’re on our phones while we watch TV. Recent articles discuss Netflix’s or streamers’ requests for creatives to produce content optimized for casual viewing, meaning intentionally scripted for distracted viewers.

    I’ve spent the last few years researching how Netflix shapes European screen production, a region where the streaming giant has invested billions in original content.

    I first encountered the concept of “second-screen shows” — created with distracted viewing in mind — in 2022.

    At the time, I was doing interviews with producers, showrunners, screenwriters and directors who had worked on European Netflix originals (due to confidentiality, they have been given pseudonyms here). Two of my interviewees described what they saw as very unusual feedback coming from Netflix executives: make a show that the audience can follow without looking at the screen.

    Recipe for a ‘second-screen show’

    So, how exactly do you make a second-screen show?

    One of my interviewees, Eleven, said that Netflix explicitly labels certain series “second-screen shows” and develops them as such. Another, Tokyo, shared their experience encountering similar directives:

    “[Netflix] basically said, ‘What you need to know about your audience here is that they will watch the show, perhaps on their mobile phone, or on a second or third screen while doing something else and talking to their friends, so you need to both show and tell, you need to say much more than you would normally say. […] You need your audience to understand what’s going on, even if they’re not looking at the screen.’”

    These series are designed around the viewing behaviours of their target audience, described by my interviewees as “younger” and “young adult” viewers.

    As Eleven explained, a Netflix executive would talk about how “in this show, we have to make sure that the points come through, even though kids are watching TikTok while they watch it.”

    Because Netflix knows a certain target audience will be “second-screening” these series, the streamer wants the show’s writing to facilitate this practice. Concretely, this means overly expository dialogue, repeating plot points and adding lots of voice-overs to narrate the action and help the distracted viewer follow along.

    Other sources cite examples where screenwriters were told to have characters announce what they’re doing and make the show less distracting from the viewer’s “primary screen” (their phone).

    Eleven joked about how if a character was sad, Netflix would ask to include a line of dialogue for the character saying, “I’m sad” with tears streaming down their face, while rain pours, and mournful violins play in the background.

    Here, the golden rule of screenwriting “show, don’t tell,” is cast aside for “show and tell” (and tell again). Joking aside, they reflected: “It saddens me, on behalf of great storytelling traditions.”

    The revival of casual viewing

    But are second-screen shows really the final nail in the coffin for prestige TV? The idea of casual or background viewing is not new.

    There is a long history of content targeting the distracted viewer.
    (Shutterstock)

    From soap operas to sitcoms to reality TV, there is a long history of content targeting the distracted viewer.

    Sometimes we’re just tired and need an easy watch. But these types of series are a far cry from the era of HBO-style Netflix, hyping itself as the home of quality TV, a place where showrunners could find unprecedented creative freedom.

    There is still a time and place for complex storytelling. But data suggests
    that over half of viewers in many national markets — including in India, the United Arab Emirates, Australia, the United States, Britain and Denmark — are periodically checking their phones while watching TV. And Netflix is creating shows that enable this ritual.

    ‘Cult’ of data

    Netflix’s strategy has always hinged on a granular understanding of its users. Netflix collects a huge amount of data on its subscribers and their viewing behaviors: what they’re watching, how, when, where and on what device. This information is used by teams of data scientists to not only improve Netflix’s personalization but also to help with decisions about what content to develop and how.

    Yet research suggests Netflix has really cultivated the “myth of big data,” flip-flopping over the years about how much data influences the creative process of Netflix productions.

    And while screen workers may resist what they sense about analytics as they participate in creative processes, ultimately, it is the executives greenlighting content who interpret data and choose how to use it.

    Geralt, another producer I interviewed, described how “whenever you talk to the algorithm people and the data people at Netflix, it feels like a cult. They talk about the algorithm like it’s a god, like ‘Well the algorithm tells us…’”

    One part of the content strategy

    With that said, it’s critical to take blanket statements about Netflix’s operations with a grain of salt.

    The behemoth operates in more than 190 countries, with offices in 30, housing different teams and producing content around the globe. It’s estimated that 589 new Netflix originals were added in 2024.

    Recent articles about “second screen” productions focused on the U.S. context, and my research did not seek to determine how many Netflix productions are made this way.

    Netflix’s goal these days, according to CEO Ted Sarandos, is to be “equal parts HBO and FX and AMC and Lifetime and Bravo and E! and Comedy Central.”

    Second-screen shows, it seems, are one part of this strategy.

    Outlook for storytellers

    It’s clear that viewing behaviours are driving changes in storytelling. But for screenwriters today, second-screen shows are only a symptom of bigger problems.

    Between a shrinking drama market and the competition for attention from platforms like YouTube and TikTok, streamers are investing a lot less in content than they used to. They’re also much more risk-averse with these investments.

    Even before now, producing for streamers brought its own set of challenges.

    Writer advocates with the 2023 TV writers strikes highlighted how streaming introduced new and exciting formats for TV writing, but also a new kind of precarity. And concerns continue to loom around how AI might impact creativity, career sustainability and IP rights.

    Last year, the Canadian Media Producers Association joined production organizations around the world in issuing a call for streaming regulation that underscores independence, IP rights and fair remuneration.



    Read more:
    Online Streaming Act: As we revisit Netflix support for Canadian content, it’s about more than money

    It’s no surprise the mantra across the media industries last year was “survive ‘til ’25.”

    As media creators become increasingly dependent on data-driven tech companies, they will continue producing content to the whims of executives following the holy algorithm.

    The next time you’re watching a Netflix show and feel the urge to scroll during another repetitive voice-over, the question is: Are some shows written like this because the audience is disengaged, or is the audience disengaged because shows are written like this?

    Daphne Rena Idiz does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Too distracted to watch? Netflix has the perfect ‘second-screen’ show for you – https://theconversation.com/too-distracted-to-watch-netflix-has-the-perfect-second-screen-show-for-you-249012

    MIL OSI – Global Reports –

  • MIL-OSI Global: Namibia’s Shark Island: Europe’s push for green hydrogen risks compromising sites of colonial genocide

    Source: The Conversation – Canada – By Rosanna Carver, Postdoctoral Research Fellow, University of Victoria

    An aerial view of Shark Island and the town of Lüderitz in Namibia. (Black Court Studios)

    In September 2025, Namibia will host the Global African Hydrogen Summit. The Namibian government has ambitions to turn the country into a leading producer of green hydrogen for export to markets in Europe and elsewhere. However, the lands and waters now regarded as being essential to Europe’s energy transition are tied to traumatic memories of colonial violence; especially the ocean, which is the final resting place for thousands of Namibians.

    As countries around the world transition to renewable energy, an inconspicuous peninsula in Namibia known as Shark Island is positioned to play a key role in the production of so-called “green” hydrogen, which is a proposed alternative to fossil fuels.

    However, the peninsula and its waters are at risk of being compromised by proposed port expansions to support the transportation of green hydrogen. Shark Island, near the town of Lüderitz, is now a campsite for tourists.

    But Shark Island is also called Death Island, and it was a concentration camp and a site of genocide during German colonial rule from 1884 to 1915. The concentration camp has since been destroyed, leaving little evidence of the violence that occurred there. However, recent international investigations highlight what many Namibians have known and worked on for generations.

    Germany’s colonization and genocide

    In 1884, German colonizer Adolf Lüderitz annexed Namibia, intending to finance colonial rule through minerals. Between 1904 and 1908, German colonial forces killed approximately 100,000 people (80 per cent of the Herero and half of the Nama population). The genocide also affected the ǂNukhoen and the ǂAonin communities.

    During the genocide, those who were not immediately killed were sent to concentration camps, where they were forced to perform manual labour, such as working on railways and harbours. This occurred across Namibia, including on the coast: in Swakopmund and Lüderitz alone, more than 1,550 Nama died.

    The research agency Forensic Architecture has digitally reconstructed the camps and identified evidence of burial places. On Shark Island, they demonstrate that the port expansion “poses further imminent risk to the site.”

    Attention has been given to the land-based component of green hydrogen projects including the multinational joint venture, Hyphen Energy. But the ocean, which Namibia’s development projects also interact with, is often overlooked as a space of memory, justice and relations. This is in part due to colonial and apartheid histories that erased or excluded people from the coasts and oceans.

    During colonial rule, German colonizers incarcerated Namibians offshore aboard ships. They also threw the bodies of those who had died in the concentration camp into the ocean. The local saying “the sea will take you” highlights how the ocean is involuntarily tied to memories of death and trauma.

    Namibians have not forgotten the violence that occurred on the land and at sea. Local groups are restoring grave sites and establishing memorials. The discussion of recognition, justice and equitable rights and access to the coast and ocean are important for Namibia’s communities and the decedents of those killed during the genocide.

    Waves of energy colonialism

    Green hydrogen has a central role in global decarbonization ambitions. Namibia is considered an “export production site” for Europe’s future hydrogen economy. This is due to its solar and wind potential, and access to the ocean.

    Hydrogen can only be produced in Namibia if the infrastructure exists to enable it. For example, hydrogen requires the industrial and transportation infrastructure to get it to international markets. To meet these demands, the Namibian Ports Authroity is proposing port expansions in the city of Walvis Bay and Lüderitz, where expansion could have implications for Shark Island and its waters.

    Campaigners in Namibia are demanding the government and industry halt the expansion plans on Shark Island, and meaningfully engage with reconciliation. Among them is the Windhoek-based Black Court Studio, where Natache Iilonga, co-author of this article, is the creative director.

    These proposed developments signal the continued European dominance in Namibia’s blue and green economy projects. They enable energy colonialism, where the push for green energy continues colonial injustices. European countries and industry perpetuate ecological, social and cultural harm to satisfy their own climate change agendas.

    Projects and partnerships between Namibia and European countries like Germany are emblematic of (neo)colonial power relations. While these projects propose to foster co-operation, they also continue to dispossess communities from their lands and waters, and erase environmental and cultural relations.

    Through “development assistance,” the German government and non-governmental organizations continue to influence economic projects in Namibia, while avoiding discussion of meaningful reparations for colonial crimes.



    Read more:
    Germany’s genocide in Namibia: deal between the two governments falls short of delivering justice

    The land and ocean are not merely passive witnesses to colonial violence. Black Court Studio incorporates the ocean as a dynamic participant in the conversation about these violent histories, and justice and healing. Through community exercises and counter-mapping, the studio explores people’s socio-cultural relations with the ocean.

    Together, the studio’s interventions are beginning to resituate previously erased and forgotten connections with Shark Island. This work also highlights cultural and spiritual relations with the ocean that persist despite this dispossession.

    Namibia’s ocean and coasts are not empty spaces to be exploited for the benefit of Europe’s energy future. A deeper understanding of histories, and present day connections, provide lessons for meaningful reconciliation.

    Natache Iilonga is a practicing architect with Iilonga Architects Inc and the co-founder of Black Court Studios Namibia.

    Rosanna Carver does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Namibia’s Shark Island: Europe’s push for green hydrogen risks compromising sites of colonial genocide – https://theconversation.com/namibias-shark-island-europes-push-for-green-hydrogen-risks-compromising-sites-of-colonial-genocide-239549

    MIL OSI – Global Reports –

  • MIL-OSI Asia-Pac: APEDA Facilitates First-Ever Sea Shipments of Indian Pomegranates to Australia

    Source: Government of India

    Posted On: 17 FEB 2025 12:42PM by PIB Delhi

    In a significant milestone for India’s agricultural exports, the Agricultural and Processed Food Products Export Development Authority (APEDA) in collaboration with AgroStar and Kay Bee Exports successfully completed India’s first-ever commercial trial shipments of premium Sangola and Bhagwa pomegranates respectively to Australia via sea. This marks a major breakthrough in expanding market access for Indian fresh produce.

    After getting the market access for export of Indian pomegranates to Australia, a work plan and Standard Operating Procedures (SOP) for the export of pomegranates to Australia were signed in February 2024.  The first air shipment took place in July 2024, following the successful market access facilitation by APEDA and National Plant Protection Organization (NPPO). The air shipment helped assess market demand, which led to follow-up sea shipments to optimize cost efficiency.

    The first-ever sea-freight shipment departed from India on December 6, 2024 and arrived in Sydney on January 13, 2025 with 5.7 metric tons (MT) of pomegranates sourced from the Solapur region of Maharashtra, packed into 1,900 boxes, each containing 3 kg of premium fruit. Another commercial sea shipment carrying 1,872 boxes (6.56 tons) of Bhagwa variety arrived in Brisbane, Australia, on January 6, 2025. The use of bulk sea shipment ensured competitive pricing, benefiting farmers and creating sustainable trade opportunities. Both shipments were integrated into ANARNET, India’s traceability system, ensuring transparency and building consumer confidence in international markets. This successful export not only underscores India’s capabilities in meeting global quality standards but also provides a significant boost to Indian farmers by opening up new revenue streams.

    Upon arrival, the pomegranates received an overwhelmingly positive response in Sydney, Brisbane and Melbourne. The strong demand has already led to immediate requests for additional shipments, showcasing the growing potential for a profitable and sustainable trade relationship between India and Australia. The shipment’s timing was strategically aligned with Australia’s non-producing season, maximizing market opportunities for Indian exporters.

    Mr. Abhishek Dev, Chairman APEDA, emphasised “India’s agricultural export landscape is growing at an unprecedented pace, with fresh fruit exports surging by 29% year-on-year. Pomegranates alone have seen a 20% growth, demonstrating the immense potential of this segment. The successful shipments of premium pomegranates to Australia marks India’s ability to supply high-quality fresh produce to discerning international markets. Through advanced traceability systems like ANARNET, we ensure that Indian agricultural products meet the highest global standards, enhancing consumer trust worldwide.”

    Mr. Abhishek Dev also emphasized APEDA’s role in securing and facilitating market access for Indian farmers, stating, “We are committed to supporting Indian farmers and agri-entrepreneurs by expanding into new and emerging markets. This success story paves the way for further collaborations and increased export volumes in the future.”

    With the next export season beginning in September, AgroStar’s INI Farms, Kay Bee Exports and other key players are poised to build on this success, ensuring a steady supply of Indian pomegranates to Australia. This development reaffirms India’s position as a global leader in agricultural exports and strengthens bilateral trade ties with Australia.

    APEDA is a statutory body under the Ministry of Commerce and Industry, Government of India which plays a crucial role in facilitating agricultural and processed food exports. APEDA supports Indian farmers and agri-businesses by promoting market development, infrastructure expansion and export promotion through traceability systems like ANARNET. India’s agricultural exports, including fresh fruits, vegetables, basmati rice and processed foods, continue to see robust growth, reinforcing the country’s position in the global agri-trade sector.

    ***

    Abhishek Dayal/ Abhijith Narayanan

    (Release ID: 2104015) Visitor Counter : 99

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Heritage Map Room refresh

    Source: State Library of NSW

    The Heritage Map Room will be temporarily closed from Tuesday 18 February until Saturday 1 March for a refresh and rehang of maps from our exceptional cartographic collection. 

    Visitors are welcome to explore our other exhibitions, including the Michael Crouch Room, which also features selections from our cartographic collection. 

    While the Heritage Map Room is being refreshed, we invite you to explore our extensive digital collection through our online catalogue.

    MIL OSI News –

  • MIL-OSI United Kingdom: Liverpool flies the Purple Flag once more

    Source: City of Liverpool

    Liverpool has once again been awarded Purple Flag status, receiving accreditation by the international scheme for the 15th year in a row.

    This recognition highlights the Liverpool’s commitment to being one of the UK’s safest night-time economies, where residents and visitors can enjoy a secure and vibrant nightlife experience. It is one of only a handful of cities that has retained the status since 2010.

    Run by the Association of Town and City Management (ATCM), the Purple Flag scheme recognises places that have a dynamic, secure, and vibrant evening and night-time economy, similar to a Green Flag for parks, or Blue Flag for beaches.

    The prestigious award highlights Liverpool’s diverse range of entertainment, dining and culture throughout the night, as well as its commitment to the welfare and safety of visitors and residents.

    The report from ATCM praised the city for its range of local and high-end venues, and its ‘iconic and unique appearance and reputation’. The wellbeing of visitors was also rated highly, with strong partnerships between the Council, Liverpool One, Merseyside Police, Liverpool BID and students’ groups contributing to a welcoming, clean, and safe night-time environment.

    People’s safety is a priority for Liverpool City Council, who work closely with the police to tackle crime and anti-social behaviour on the streets. In 2024, the Council’s CCTV network helped to deal with over 3,000 incidents, including assaults, thefts, and criminal damage.

    There are over 80 Purple Flag destinations around the globe across the UK, Ireland, Sweden, Malta, New Zealand and Australia.

    Recently, Liverpool’s Purple Flag status attracted delegates from the Asia branch of the International Festivals and Events Association (IFEA) to the city.

    More than thirty IFEA members toured the city in December to learn about its thriving nightlife and are hoping to use this knowledge to apply for Purple Flag status in Asian cities for the first time.

    In April, Liverpool City Council and partners will officially accept the title at a special event.

    Councillor Laura Robertson-Collins, Liverpool City Council’s Cabinet Member for Communities, Neighbourhoods and Streetscene said: “I am delighted that Liverpool has once again been recognised for its outstanding night-time economy.

    “Our excellent nightlife here in the city is no secret, and we’re proud that Liverpool is seen as an exciting, engaging, and safe place for people to visit.

    “This accreditation is down to all the hard work from our staff and partners across the city, who work incredibly hard every single day to make sure that the city remains a great place to live in and come to.”

    Shaun Holland, Director of Operations at Liverpool BID Company said: “I am delighted that Liverpool has once again been awarded Purple Flag status. The tireless work that takes place between partners in the city, the night-time venues and community are reflected in this welcomed recognition.

    “Liverpool is recognised nationally as one of the best and safest places to visit for a memorable night or weekend experience. We are blessed in Liverpool to have great people who work and live here.

    “Visitors are warmly welcomed and encouraged to explore and experience all the wonderful sights, sounds, hospitality and food outlets enriching their experience.”

    Emily Spurrell, Merseyside’s Police Commissioner, said: “I’m delighted that Liverpool has retained its Purple Flag for the fifteenth year running. To be awarded this status once again only serves to reaffirm what we already know that our city is a safe and welcoming place for people to visit from all walks of life.

    “Millions of visitors, from near and far, come to our city each year to see our iconic buildings and landmarks, whilst enjoying a safe night out in our many pubs, bars, clubs and restaurants, so it is fantastic to see this being recognised, once again, on a national level by a team of independent assessors.

    “The Purple Flag status is testament to those who work tirelessly to keep our nighttime economy safe and inclusive, and my thanks go to Merseyside Police and Liverpool City Council, who are committed, with the support of our partner agencies, to deliver a comprehensive and proactive plan to ensure the city centre is a place for people of all ages, interests and backgrounds to enjoy.

    “The safety of our residents and visitors is always our number one priority and whilst the retention of this status gives reason to celebrate, we remain wholly focussed on getting even better at what we are doing, to ensure that Liverpool continues to be the best place in the UK to come for a night out, for many years to come.”

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Director General David Cheng-Wei Wu and Mrs. Wu Celebrated Taiwan’s Night Lunar New Year with the Australian Taiwanese Friendship Association (ATFA)

    Source: Republic Of China Taiwan 2

    Director General David Cheng-Wei Wu and Mrs. Wu were delighted to celebrate Taiwan’s Night Lunar New Year with the Australian Taiwanese Friendship Association (ATFA), joined by VIPs including Federal MP Paul Fletcher, NSW MPs Hugh McDermott, Tim James, and Matt Cross, as well as Willoughby Mayor Tanya Taylor and Councilors, all coming together to show their strong support for TW-AU friendship and the Taiwanese community。
    In his remarks, DG Wu highlighted:

    As Prime Minister Anthony Albanese said at Ryde Lunar New Year Festival, the Lunar New Year is a wonderful time of year—one that has become such a cherished fixture on the Australian calendar, with families, friends, and communities coming together in joy and celebration to share in centuries of tradition.
    Indeed, the Taiwanese community brings energy and vibrancy to Australia’s economy while embodying its spirit of diversity and inclusivity. Overseas Taiwanese play a key role in connecting TW with AU and the world, strengthening Taiwan’s international image and influence.
    Taiwan is Australia’s only top-10 export market without an FTA. We urge the launch of FTA negotiations and look forward to Australia’s support, as the 2025 rotating chair, for Taiwan’s accession to CPTPP.

    During the speeches, Federal MP Paul Fletcher expressed heartfelt gratitude for the Taiwanese community’s longstanding support and looked forward to Gisele continuing to advocate for the community. NSW MPs echoed DG Wu’s calls for a TW-AU FTA and Taiwan’s accession to the CPTPP. Mayor Tanya acknowledged the contributions of the Taiwanese community and highlighted that 10 out of 13 city councillors—nearly all—were present in support of the community.
     

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Minister Rishworth interview on ABC Hobart Drive with Kylie Baxter

    Source: Ministers for Social Services

    E&OE TRANSCRIPT

    Topics: Family and domestic violence; Men’s behaviour change; Additional funding for Tasmania; Election timing.

    KYLIE BAXTER, HOST: We all know the figures around domestic violence. They are terrible and seem to be getting worse. Not everywhere, but in a lot of places. Now, Federal Labor has promised funding to tackle the issue, but the big question is, will it actually make a difference? I’m joined by Social Services Minister Amanda Rishworth. Thank you for joining me on the program.

    AMANDA RISHWORTH, MINISTER FOR SOCIAL SERVICES: Great to be with you.

    KYLIE BAXTER: So, what is the current situation around domestic violence? I mean, how bad is it?

    AMANDA RISHWORTH: What we have in Australia is really unacceptable levels of family and domestic violence. When you look at the statistics, one woman loses their life around every 10 days, which is just unacceptable. Partly we are seeing, of course, an important conversation about this, often domestic and family violence. We knew it may be happening behind closed doors and we weren’t talking about it. It’s really important we have a conversation about it, but we’ve got to have action as well. That’s what I’ve been doing over the last two and a half years. But this new national partnerships agreement with the Tasmanian government allows us to roll out more support where it’s needed.

    KYLIE BAXTER: Okay, so let’s talk about Tasmania. How are we faring in relation to domestic violence?

    AMANDA RISHWORTH: Well, look, each state and territory has its own challenges, but it also has some really important options and services available for people. And when it comes to Tasmania, there’s been a lot of work done delivering, for example, rural family violence outreach programs. We know Tasmania is a pretty spread out place and so some of the funding that we previously worked with the Tasmanian Government has been looking at rural family violence outreach programs, but also, for example, family violence training for legal professionals, which is really important. So, look, Tasmania has some of the same challenges as the rest of the country, but also there are some other challenges, such as the spread out population, which also needs to be looked at how we address that as well.

    KYLIE BAXTER: This funding announcement from the Labor Federal Government of more than $15.7 million, what exactly is it going to be used for?

    AMANDA RISHWORTH: This will be used for a number of things and it complements the other investments we’ve made across the country, including to things like our Escaping Violence Program, which is a national program which people can get funds to leave a violent situation. But this particular new agreement will allow for funding for specialised services for women, services to support those exposed to family and domestic violence, to heal and recover, and also in particular working with men, including men’s behaviour change programs. One particular program that’s been identified by the Tasmanian government in which they could invest in is an early intervention program with young men, particularly around the ages of 12 to 17, really to break that cycle. They may have witnessed violence being used themselves and maybe showing signs of recreating that pattern. And so this program is really one example of a really important program about breaking that cycle.

    KYLIE BAXTER: If you’ve just joined me, you’re listening to the voice of Amanda Rishworth who is the Federal Social Services Minister. Now, when we have these conversations, despite the fact that men are mostly the perpetrators against women, we often receive texts asking, but what about men? Is there dedicated money for men? Possibly, I guess for things like psychologists and psychiatrists to help break the cycle. I mean, you’ve obviously mentioned, you know, younger men aged 12 and up, but what about guys of different age groups? I mean, is any money available to help them go and see a psychologist or a psychiatrist if they need it?

    AMANDA RISHWORTH: Yes, look, there are a lot of programs. Firstly, I would say that while we do acknowledge that men can also be victims of domestic and family violence, the vast majority are women and it is perpetrated by men. But we do acknowledge that men can be victims too. And so things like 1800RESPECT or the Escaping Violence Program is open to all victim-survivors. But if we talk about what’s available to men and bringing men into the conversation, about how we solve it. You’re absolutely right, there’s a number or many programs that we’ve funded over the last two years to try and engage men. As you mentioned, we’ve been funding work with young boys and men, but also looking at how we have behaviour changed. So, there is No To Violence, which is a national phone line in which people can get telephone online counselling information about how they might, they might be concerned about their behaviour. This is dedicated to them to actually have a conversation. A lot of people, a lot of men decide to call Mensline as well. And that is also a very important option if people want, in a non judgmental way, to have a conversation about things that they might be concerned with and get the help they might need to engage with a behaviour change program, for example.

    KYLIE BAXTER: And I guess the important question is, when are these initiatives actually going to be rolled out?

    AMANDA RISHWORTH: Well, the funding will begin from the first of July this year. That’s the agreement through the national partnerships. But it is not the only money that we have contributed to the Tasmanian Government. This builds on an extra $23 million that we’ve provided already to the Tasmanian Government to boost things like their frontline workforce and other programs. So, this is an additional money to continue this important work.

    KYLIE BAXTER: Obviously this is an election promise and so do you have concerns if Labor is not re-elected, how will things roll then for victims of domestic violence?

    AMANDA RISHWORTH: We hope that whoever wins the election will commit to this funding. Of course, we’ve signed this agreement with the Tasmanian Government but I can’t speak for the Liberal National Party of whether they would seek to rip up this agreement. I hope they don’t. But this is our clear commitment to making a difference when it comes to these issues.

    KYLIE BAXTER: And have you had any closed door meetings in the past few days or week in relation to an election date?

    AMANDA RISHWORTH: Oh, look, I have to be honest, election dates are above my pay grade. So, no, I can’t, I can’t give you the inside scoop today. Unfortunately there is one person that I don’t know if he’s made up his mind yet, but one person that knows when that election is, and that’s our Prime Minister.

    KYLIE BAXTER: Thank you very much for your time. Appreciate you coming on the Drive program.

    MIL OSI News –

  • MIL-OSI Australia: Suspicious Death – Royal Darwin Hospital

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force is investigating the circumstances of a suspicious death of a 39-year-old female at Royal Darwin Hospital this afternoon.

    Around 9:00am, Emergency Services received reports of a seriously ill woman at a residence in Humpty Doo. St John Ambulance attended and conveyed the woman to Royal Darwin Hospital in a critical condition where she later passed away. Police attended the hospital and have since commenced an investigation into the circumstance of her death.

    A crime scene has been established at a rural residence.

    A 39-year-old male, known to the woman, was arrested and is assisting police with enquiries.

    Investigations remain ongoing into the exact circumstances and cause of the woman’s death. Police will release further information as the investigation progresses.

    MIL OSI News –

  • MIL-OSI Australia: 42-2025: Scheduled Outage: Thursday 20 February to Friday 21 February 2025 – Multiple Systems

    Source: Australia Government Statements – Agriculture

    17 February 2025

    Who does this notice affect?

    Approved arrangements operators, customs brokers, importers, manned depots, and freight forwarders who are required to book and manage requests for inspections through the Biosecurity Portal.

    Approved arrangements operators who will be required to view and/or update details of their Approved Arrangement via the Approved Arrangement Management Product (AAMP).

    Approved arrangement operators attempting to access online…

    MIL OSI News –

  • MIL-OSI: Interim Management Statement Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    17 February 2024

    HARGREAVE HALE AIM VCT PLC
    (the “Company”)

    Interim Management Statement

    Q1 2025

    Introduction

    This interim management statement covers the first quarter of the 2024/25 financial year, 1 October 2024 to 31 December 2024. Investment performance measures contained in this report are calculated on a pence per share basis and include realised and unrealised gains and losses.

    Overview

    Once again, we have endured a difficult start to the financial year, albeit for very different reasons. The 2024 Autumn budget, preceded by some unhelpfully stark messaging, has weighed on economic activity. GDP, employment reports and PMI surveys all highlight a notable softening in the UK economy through the second half of (cal.) 2024.

    Measures of UK consumer and business confidence dipped, suggesting that households and companies were becoming increasingly cautious. Although a very significant increase in public spending is expected to support economic activity pickup in 2025, there is clear evidence that The Office for Budget Responsibility forecast for GDP to increase from 1.1% in 2024 to 2.0% in 2025 is likely to be revised lower when next updated.

    UK fiscal policy is seen as being negative to growth and positive for inflation. In the round, this adds up to fewer rate cuts in 2025. With higher inflation and lower growth undermining the case for lending to the UK Government, UK Gilt yields broke out to the upside and Sterling to the downside. The move higher in borrowing costs was exacerbated by higher yields in the US Treasuries market. The Government is on the back foot and will need to respond before the 2025 Autumn budget.

    None of this has been helpful for investor interest in UK equities with outflows increasing again after a period of improving sentiment through the early Summer. This was particularly acute for AIM and, more broadly, the IA UK Small Cap sector.

    Reflecting this, the FTSE AIM All-Share Index was noticeably weak ahead of and subsequent to the budget, with the index steadily declining for 7 months through to 31 December 2024. Within the period, the AIM All-Share index returned -2.32% in the three months to 31 December 2024, lagging the FTSE All Share Index (-0.35%). We continue to believe that many small companies trading on AIM offer exceptional value.

    Performance

    In the three months to 31 December 2024, the unaudited NAV per share decreased by 0.40 pence from 40.55 pence (cum-dividend) to 40.15 pence, giving a total return of -0.99%.

    The qualifying investments fell by 0.09 pence per share whilst the non-qualifying investments made a loss of 0.25 pence per share. The adjusting balance was the net of running costs and investment income.

    Qualifying Investments

    Aquis Exchange (+93.1%, +£1.66m) received a takeover offer from its larger Swiss peer SIX Exchange at 727p. This was a 120% premium to the previous closing price, a 45% premium to the average share price over the prior 12 months and slightly above the 2021 share price high of 720p. This equates to an exit multiple of 4.7x for the VCT. The transaction was approved on 18 December 2024 and is expected to complete in Q2 2025.

    PCI-PAL (+30.3%, +£1.09m) reported good FY24 results with revenues +20% to £18.0m and positive EBITDA of £0.9m. The company also reported strong SAAS metrics with ARR growing by 23%, Net Retention Rate at 102% and low churn. Following a £3.3m fundraise in March 2024, the balance sheet is strong with £4.3m cash. Positive news flow continued subsequently with a key contract renewal and in-line AGM trading update. Post period end, the company reported strong trading for the 6m to 31 December 2025 and re-iterated guidance for FY25.

    Cohort (+15.0%, +£0.65m) announced strong interim results for the 6m to 31 October 2024 with revenues increasing by 25% and a record order book of £541m. The company confirmed it remains on track to achieve market forecasts for FY25. Separately, Cohort announced the £74m acquisition of Australian-based satellite communications company EM Solutions. The acquisition was partly funded through existing cash & debt facilities, combined with a £40m fundraise at 875p.

    Following weak financial performance in FY24, Equipmake (-40.0%, -£0.93m) raised £3m in October 2024. The additional capital, when combined with cost action, has extended the company’s cash runway to March 2025. This was followed by the subsequent launch of a strategic review and a formal sale process.

    Fadel (-42.9%, -£0.72m) saw customer implementation delays and an unsuccessful new business tender. Revenue forecasts for FY24 were reduced by 12% from $14.8m to $13m. The high drop through of revenues to profits meant that projected FY24 EBITDA losses increased from $2.3m to $4m. The company has adopted a more disciplined approach to cost that has yielded an improved outlook for losses and cash performance in 2025.

    Team Internet (-27.7%, -£0.43m) shares fell sharply in Q4 2024 as the company announced that revenues at a recently acquired online marketing business Shinez would fall short of expectations. More recently the shares have begun to recover as the company announced it had received a preliminary takeover proposal.

    Non-Qualifying Investments

    The IFSL Marlborough UK Micro-Cap Growth Fund (+0.6%, +£0.06m) and IFSL Marlborough Special Situations Fund (-1.3%, -£0.13m) were broadly flat over the period. Within the non-qualifying portfolio, the weaker outlook for the UK economy following the Autumn budget impacted WH Smith, Wickes and Hollywood Bowl. Chemring also fell as earnings forecasts were impacted by rising national insurance costs and the curtailment of the company’s share buy-back in favour of preserving funds for organic investment.

    Portfolio structure

    The VCT is comfortably above the HMRC defined investment test and ended the period at 87.5% invested as measured by the HMRC investment test. By market value, the weighting to qualifying investments increased from 56.0% to 56.9%.

    The market remains very subdued with just two VCT qualifying IPOs within the last 12 months. There were two new equity investments into companies listed on AIM and one CLN into an existing portfolio company listed on AIM. We remain hopeful that improving market conditions will help drive an increase in deal flow during 2025.

    The new qualifying investments included a following on (CLN) investment into Rosslyn Data Technologies and new equity investments into Feedback and Ixico. There were no material disposals in the quarter. We sold two legacy tail investments (Gfinity and Surface Transforms) and trimmed our investment in Cohort following a period of strong share price performance.

    There were no substantial changes to the allocation to the two IFSL Marlborough Funds, non-qualifying equities, fixed income, ETFs or cash which respectively represented 13.4%, 6.8%, 12.9%, 0.4% and 9.6% of net assets.

    The HMRC investment tests are set out in Chapter 3 of Part 6 Income Tax Act 2007, which should be read in conjunction with this interim management statement. Funds raised by VCTs are first included in the investment tests from the start of the accounting period containing the third anniversary of the date on which the funds were raised. Therefore, the allocation of qualifying investments as defined by the legislation can be different to the portfolio weighting as measured by market value relative to the net assets of the VCT.

    Share Buy Backs & Discount

    3.9 million shares were acquired in the quarter at an average price of 38.27 pence per share. The share price decreased from 39.00p to 38.40p and on 31 December 2024 traded at a discount of 4.74% to the last published NAV per share (as at 27 December 2024, published on 31 December 2024).

    Post Period End

    The unaudited NAV per share increased from 40.15 pence to 40.22 pence (cum div) as at 7 February 2025, an increase of 0.17%. The FTSE AIM All-Share index increased by 0.09%.         

    END

    For further information please contact:

    Oliver Bedford, Canaccord Genuity Asset Management

    Tel: 020 7523 4837

    LEI: 213800LRYA19A69SIT31        

    The MIL Network –

  • MIL-OSI Australia: High Court confirms that corporate trustees do not owe a fiduciary duty to predecessors

    Source: Allens Insights

    Clarification of the duties owed by insolvency practitioners appointed to corporate trustee entities 4 min read

    Further to our previous Insight, the High Court has confirmed that a successor trustee does not owe a fiduciary obligation to a former trustee in respect of the entitlement of the former trustee to indemnification out of the trust assets. Nor does the successor trustee owe a fiduciary obligation to a former trustee in respect of the commensurate beneficial interest that the former trustee has in the trust assets.

    Background 

    Anthony Naaman was a judgment creditor of a former trustee and was subrogated to the former trustee’s entitlement to indemnification. Jaken Properties Australia Pty Limited (Jaken) was the successor trustee. During its time as the successor trustee, Jaken transferred trust assets to third parties leaving insufficient trust assets to satisfy the former trustee’s entitlement to indemnification (Third Parties). Mr Naaman sought relief in the Supreme Court of New South Wales to enforce his judgment debt. Mr Naaman claimed that Jaken’s transfers of trust assets to the Third Parties were part of a dishonest and fraudulent design in breach of fiduciary duties owed by Jaken to the former trustee.

    The decisions

    Supreme Court decision

    At first instance, the primary judge determined that a successor trustee owes a former trustee a fiduciary obligation not to deal with the trust assets so as to destroy, diminish or jeopardise the former trustee’s entitlement to indemnification. The court found that Jaken had ‘engaged in a dishonest and fraudulent design to strip itself of assets that might otherwise be available to satisfy [the former trustee’s] power of indemnity’ to which Mr Naaman was subrogated. In light of the identified fiduciary obligation, the court found that the Third Parties had knowingly assisted in the dishonest and fraudulent breach of that identified fiduciary obligation, and were amenable to orders for equitable compensation and to account.

    Court of Appeal decision

    On appeal, Justice Leeming, with whom Justice Kirk agreed in separate reasons, concluded that Jaken did not owe a fiduciary obligation to the former trustee at any time. Instead, the majority held that the only final recourse the former trustee had against Jaken was the appointment of a receiver. While Justice Leeming accepted that a successor trustee ‘is subject to a duty not to deal with [the trust] assets so as to prejudice the former trustee’s entitlement to be indemnified from those assets’, this duty was not fiduciary.

    High Court decision

    In Anthony Naaman v Jaken Properties Australia Pty Limited ACN 123 423 432 & Ors [2025] HCA 1, the sole question for determination was whether a successor trustee owes a fiduciary obligation to a former trustee in respect of the former trustee’s entitlement to indemnification out of trust assets or the commensurate beneficial interest in the trust assets that the former trustee retains following replacement of the former trustee by the successor trustee. By a 4:3 majority, the Court held that a successor trustee does not owe such a fiduciary duty to the former trustee. The explanation for that answer lies in the nature of a trustee’s entitlement to indemnification out of the trust assets being an entitlement to have the trust assets applied for the purpose of recouping expenditure or exonerating liability properly incurred by the trustee.

    Further, the majority noted that one person does not come into a fiduciary relationship with another person merely by reason of holding property in which the other person has an equitable proprietary interest. Nor is a fiduciary relationship between the person holding the property and the other person having the equitable proprietary interest brought into existence merely by adding the circumstance that the person holding the property knows the other person has such an interest in the property or knows the other person claims to have such an interest in it.

    In coming to its decision the Court noted that, all times since its replacement by Jaken:

    • the former trustee was able to enforce its entitlement by bringing a proceeding against Jaken for final relief in the form of an order for the sale of the trust assets or for payment out of trust funds; and
    • the former trustee was able to protect its entitlement from being destroyed, diminished or jeopardised by the conduct of Jaken by filing an interlocutory injunction or appointing a receiver.

    However, despite being available to the former trustee, no such action was taken.

    Given Jaken did not owe the former trustee a fiduciary obligation, the remedies of equitable compensation and account were not available to the former trustee against the Third Parties.

    Key takeaways

    It is not uncommon for insolvency practitioners to be appointed to insolvent former trustee companies. The conventional approach taken by insolvency practitioners to satisfy a former corporate trustee’s right of indemnity against trust assets it no longer has ownership of is to apply to a court for the appointment of a receiver over those assets. This generally remains the most effective way for a former corporate trustee to satisfy its right of indemnity.

    However, in cases where there is a risk that the successor trustee will dissipate trust assets, the High Court’s decision tells us that insolvency practitioners should consider promptly seeking interlocutory injunctive relief to preserve the status quo, even before a court hears an application to appoint a receiver.

    Should you wish to discuss further, please do not hesitate to contact one of our experts.

    MIL OSI News –

  • MIL-Evening Report: What’s the difference between period pain and endometriosis pain?

    Source: The Conversation (Au and NZ) – By Sonia R. Grover, Clinical Professor of Gynaecology, The University of Melbourne

    Polina Zimmerman/Pexels

    Menstruation, or a period, is the bleeding that occurs about monthly in healthy people born with a uterus, from puberty to menopause. This happens when the endometrium, the tissue that lines the inside of the uterus, is shed.

    Endometriosis is a condition that occurs when endometrium-like tissue is found outside the uterus, usually within the pelvic cavity. It is often considered a major cause of pelvic pain.

    Pelvic pain significantly impacts quality of life. But how can you tell the difference between period pain and endometriosis?

    Periods and period pain

    Periods involve shedding the 4-6 millimetre-thick endometrial lining from the inside of the uterus.

    As the lining detaches from the wall of the uterus, the blood vessels which previously supplied the lining bleed. The uterine muscles contract, expelling the blood and crumbled endometrium.

    The crumbled endometrium and blood mostly pass through the cervix and vagina. But almost everyone back-bleeds via their fallopian tubes into their pelvic cavity. This is known as “retrograde menstruation”.

    Most of the lining is shed through the vagina.
    Andrey_Popov/Shutterstock

    The process of menstrual shedding is caused by inflammatory substances, which also cause nausea, vomiting, diarrhoea, headaches, aches, pains, dizziness, feeling faint, as well as stimulating pain receptors.

    These inflammatory substances are responsible for the pain and symptoms in the week before a period and the first few days.

    For women with heavy periods, their worst days of pain are usually the heaviest days of their period, coinciding with more cramps to expel clots and more retrograde bleeding.

    Many women also have pain when they are releasing an egg from their ovary at the time of ovulation. Ovulation or mid-cycle pain can be worse in those who bleed more, as those women are more likely to bleed into the ovulation follicle.

    Around 90% of adolescents experience period pain. Among these adolescents, 20% will experience such severe period pain they need time off from school and miss activities. These symptoms are too often normalised, without validation or acknowledgement.

    What about endometriosis?

    Many symptoms have been attributed to endometriosis, including painful periods, pain with sex, bladder and bowel-related pain, low back pain and thigh pain.

    Other pain-related conditions such migraines and chronic fatigue have also been linked to endometriosis. But these other pain-related symptoms occur equally often in people with pelvic pain who don’t have endometriosis.

    One in five adolescents who menstrate experience severe symptoms.
    CGN089/Shutterstock

    Repeated, significant period and ovulation pain can eventually lead some people to develop persistent or chronic pelvic pain, which lasts longer than six months. This appears to occur through a process known as central sensitisation, where the brain becomes more sensitive to pain and other sensory stimuli.

    Central sensitisation can occur in people with persistent pain, independent of the presence or absence of endometriosis.

    Eventually, many people with period and/or persistent pelvic pain will have an operation called a laparoscopy, which allows surgeons to examine organs in the pelvis and abdomen, and diagnose and treat endometriosis.

    Yet only 50% of those with identical pain symptoms who undergo a laparoscopy will end up having endometriosis.

    Endometriosis is also found in pain-free women. So we cannot predict who does and doesn’t have endometriosis from symptoms alone.

    How is this pain managed?

    Endometriosis surgery usually involves removing lesions and adhesions. But at least 30% of people return to pre-surgery pain levels within six months or have more pain than before.

    After surgery, emergency department presentations for pain are unchanged and 50% have repeat surgery within a few years.

    Suppressing periods using hormonal therapies (such as continuous oral contraceptive pills or progesterone-only approaches) can suppress endometriosis and reduce or eliminate pain, independent of the presence or absence of endometriosis.

    Not every type or dose of hormonal medications suits everyone, so medications need to be individualised.

    The current gold-standard approach to manage persistent pelvic pain involves a multidisciplinary team approach, with the aim of achieving sustained remission and improving quality of life. This may include:

    • physiotherapy for pelvic floor and other musculoskeletal problems
    • management of bladder and bowel symptoms
    • support for self-managing pain
    • lifestyle changes including diet and exercise
    • psychological or group therapy, as our moods, stress levels and childhood events can affect how we feel and experience pain.

    Whether you have period pain, chronic pelvic pain or pain you think is associated with endometriosis, if you feel pain, it’s real. If it’s disrupting your life, you deserve to be taken seriously and treated as the whole person you are.

    Sonia R. Grover receives funding from the Medical Research Future Fund for LongSTEPPP: Longitudinal Study of teens with Endometriosis, Period and Pelvic pain. She is Director of the Department of Gynaecology at the Royal Children’s Hospital and
    Gynaecology Unit Head at the Mercy Hospital for Women in Heidelberg.

    – ref. What’s the difference between period pain and endometriosis pain? – https://theconversation.com/whats-the-difference-between-period-pain-and-endometriosis-pain-244656

    MIL OSI Analysis – EveningReport.nz –